Difference between Lessee and Lessor
The difference between a lessee and a lessor for auto leasing is easy to understand. When engaging in an auto lease agreement, the party that creates the lease agreement, a legally binding contract, is the lessor. The party that signs this auto lease agreement is the lessee. The lessor receives payment from the lessee in exchange for the lessee to use the vehicle for the agreed upon time period for a specified amount.
