Furniture Hire or Furniture Lease?
Without getting too technical, the easiest way to sum it up is furniture hire is like borrowing something from a friend. It’s likely to be a used thing (as your friend owns it), and your probably (depending on how good a friend your are) going to give it back. You’ll probably borrow it for a few days, maybe a week, or even a month, but being the friend you are you will give it back.
You do get charged of course when you hire furniture (and I suppose you might get charged when you borrow from your friend!), but in essence you would be ‘borrowing’ the furniture (at a charge!).
When you take furniture on a lease, you are in effect buying it, but over a period of say 2 to 3 years. It’s not quite a purchase technically, more a ‘rental’ that ends with a small lifetime one off rental payment that enables you to keep the furniture. But the key here is you get to keep the furniture.
The great benefit of this is that you hang on to your cash and spread your payments. You also get to specify the furniture. The type, colour, finish of each piece is down to you, rather than hiring furniture that you have a smaller range to choose from.
Furniture hire would generally be on a short to medium term, whereas a furniture lease would usually be on a term of 36 months to 60 months depending on your finances and the monthly payments you are looking to make.