Which of these is correct concerning the difference between a hire purchase agreement and a finance lease? September 22, 2022 by 8i9x6 Under a hire purchase agreement the customer eventually becomes the legal owner of the asset, whereas for a finance lease ownership stays with the lessor. Under a finance lease the customer takes immediate possession of the asset, while under a hire purchase agreement the customer must wait for possession until the full cost is paid. A finance lease is a short-term lending arrangement, while a higher purchase agreement is a long-term arrangement. B and C are differences. See Answer Under a hire purchase agreement the customer eventually becomes the legal owner of the asset, whereas for a finance lease ownership stays with the lessor.