Lessor: What does it mean?

The leasing company or finance provider that owns the vehicle and leases it out to a customer for a fixed term.

Lessor: The long answer

In the context of car leasing, a lessor refers to the entity or individual who owns the vehicle and allows another party, known as the lessee, to use it for a predetermined period in exchange for regular lease payments.

As a UK driver, you may come across lessors when considering car leasing options. They can be private individuals, car dealerships, or specialised leasing companies.

The lessor retains ownership of the vehicle throughout the lease term and is responsible for its maintenance and insurance.

It's important for UK drivers to understand the terms and conditions set by the lessor before entering into a lease agreement to ensure a smooth and satisfactory leasing experience.