Lease
A lease is like borrowing someone's toy.
When you borrow a toy, the person who owns it tells you how long you can use it and sometimes what rules you need to follow while you're using it.
Similarly, when you lease something, like a car or a house, the owner of the thing tells you how long you can use it (usually for a year or two) and what rules you need to follow while you're using it.
In return, you pay the owner of the thing some money every month (like giving them a little bit of your allowance every month to use the toy).
At the end of the amount of time they said you could use it (like at the end of the lease), you have to give the thing back to the owner. And if you followed the rules and didn't break anything, you get your allowance back.
When you borrow a toy, the person who owns it tells you how long you can use it and sometimes what rules you need to follow while you're using it.
Similarly, when you lease something, like a car or a house, the owner of the thing tells you how long you can use it (usually for a year or two) and what rules you need to follow while you're using it.
In return, you pay the owner of the thing some money every month (like giving them a little bit of your allowance every month to use the toy).
At the end of the amount of time they said you could use it (like at the end of the lease), you have to give the thing back to the owner. And if you followed the rules and didn't break anything, you get your allowance back.
Related topics others have asked about: