Leasing Long-term lease over a term of more than five years is a method of financing property,plant and equipment. Lessee:the user of the equipment Lessor:the owner of the equipment. Lessor is either the assets'manufacturer or an independent leasing company slide 1slide 1 Leasing Leasing ƒ Long-term lease over a term of more than five years is a method of financing property, plant and equipment. ƒ Lessee: the user of the equipment. ƒ Lessor: the owner of the equipment. Lessor is either the assets’ manufacturer or an independent leasing company