HSIC 6491—Financial leasing

Where 6491 sits

1. K Financial and insurance activities
2. 64 Financial service activities (except insurance and pension funding)
3. 649 Other financial service activities
4. 6491 Financial leasing

Contains 1 narrower code

• 649100 Financial leasing

What 6491 includes

• This Industry Class includes leasing where the term approximately covers the expected life of the goods and the lessee acquires substantially all the benefits of its use and takes all the risks associated with its ownership.
• Finance leasing differs from rental business in that establishments engaged in rental business keep stock of and take title to the goods they rent. However, establishment engaged in finance leasing do not keep stock of the goods they leased. Instead, they finance their clients in the purchase of machinery or equipment from outlets of clients' choice. The finance leasing companies will take title to the goods. After the terms of leasing expire, the ownership of the goods may or may not be transferred to the clients.

6491 in other systems