Equipment leasing in Morocco: how it works, what it costs, what to watch

An oven, a delivery van, a set of computers: leasing lets you use them without buying them. You preserve your cash, and you pay for that — the honest comparison is on the total paid out to the end, purchase option included, never on the monthly payment.

1. The mechanism and its three moments

Leasing is neither a simple rental nor a purchase. It is a rental coupled with a promise of sale, and that combination explains most of its peculiarities.

1. You choose the asset and the supplier; the leasing company buys it.
2. It leases the asset to you for a fixed term, against periodic rentals.
3. A deposit or an increased first rental is often required at the outset.
4. At the end, you exercise the purchase option at a pre-agreed amount, or return the asset.
5. If you exercise the option, the asset then enters your fixed assets at that amount.

The fourth line is what separates leasing from long-term rental. The option value is fixed in the contract, often low, and that is what makes the transaction economically close to a financed purchase — without carrying its accounting treatment during the term.

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2. Calculating the real cost

A monthly payment does not compare well. What compares is what you will have paid out in total, and what you will have got for it.

1. Add up all the rentals over the full term of the contract.
2. Add the deposit and the increased first rental if there is one.
3. Add the arrangement fees and the insurance if the contract imposes it.
4. Add the amount of the purchase option, since you intend to exercise it.
5. Compare that total with the asset’s purchase price plus the cost of credit over the same term.
6. Check what maintenance covers: included or at your expense changes the comparison.

The fifth line is the only comparison that means anything. Setting a lease against an outright purchase compares financing with the absence of financing: leasing will always lose, and that says nothing about whether it suits a business that does not have the money available.

3. The accounting treatment, and what it changes

For the duration of the contract you are using an asset that is not yours. That is what produces the differences from a purchase, and they are not neutral.

• The asset is not capitalised: It does not appear in your assets and is not depreciated by you: the lessor owns it. Your fixed asset register does not contain it during that period.
• Rentals are expenses: They go through as costs of the period, producing a different profile from depreciation: more even, and spread over the lease term rather than the asset’s useful life.
• Commitments are disclosed: A live contract is a commitment across several years; it belongs in the information annexed to the accounts, even though it does not appear on the balance sheet.
• Exercising the option changes everything: The day you exercise it, the asset enters fixed assets at the option amount and is depreciated from there, over its remaining useful life.

The last line often surprises people: an asset used for five years enters the balance sheet at a low option value and is then depreciated over what little life it has left. The tax treatment of the rentals and the option is settled with your accountant, as it does not follow the accounting treatment mechanically.

4. The clauses to read before signing

A lease is a financing contract doubled with a rental contract. Five clauses determine what it will actually cost you if something unexpected happens.

1. Early exit: its cost, almost always high, and the conditions for obtaining it.
2. Maintenance and repairs: at your expense or included, and what happens on a breakdown.
3. Insurance: imposed or free, and who receives the payout in the event of damage.
4. The option value: its exact amount, not an indicative percentage.
5. Usage obligations: place of use, subletting, resale prohibited.
6. What happens at the end if you do not exercise: return, condition required, possible charges.

The first line is the trap. A lease is a firm commitment over the whole term: if your activity changes or the asset is no longer needed, you keep paying. That is the main argument against leasing equipment whose need you are not sure of three years out.

Mistakes to avoid

• Comparing the monthly payment with the purchase price rather than the total paid out.
• Leaving the purchase option and the deposit out of the calculation.
• Comparing a lease with an outright purchase rather than a credit purchase.
• Capitalising the asset during the term of the lease.
• Signing without reading the cost of early exit.
• Committing for five years on equipment whose need is uncertain at three.

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Frequently asked questions

What is the difference from a simple rental?

A lease carries a purchase option fixed in the contract. A simple rental has none: at the end you return the asset with no possibility of acquiring it at a pre-agreed price.

Does the asset appear on my balance sheet?

Not during the lease: the lessor owns it and the rentals are expenses. The asset enters fixed assets on the day you exercise the option, at the option amount.

How do I compare it with buying?

By adding rentals, deposit, fees and option, then comparing that total with the purchase price plus the cost of credit over the same term. Comparing with an outright purchase makes no sense if you do not have the money.

Can I exit before the end?

Rarely without cost. Early exit is provided for in the contract and is paid for, often heavily. It is the clause to read before signing, particularly where the term exceeds the horizon over which you are sure of your need.

Does BelloPOS track a leased asset?

Not as a fixed asset, since you do not own it yet. BelloPOS Pro’s fixed asset tracking takes the asset in on the day you exercise the option; until then the rentals are expenses tracked with your other spending.

What to take away

Leasing buys time and cash, and that is paid for. Total it over the whole term, option included, compare it with a financed purchase rather than an outright one, and read the exit clause before committing to a term longer than your visibility on the need.

Sources

The figures and rules quoted above come from these pages, read on the date given in the article.

• Moroccan Tax Administration, 2026 General Tax Code
• Ministry of Economy and Finance, General Code of Accounting Standardisation, read 1 September 2026

Read next

Other practical guides on the same subject:

• Fixed asset register in Morocco: contents and upkeep
• Asset or expense: classifying a business purchase in Morocco
• Accounting depreciation in Morocco: method, useful life and example
• Initial financing plan: needs, contributions and resources