With a RISC and on installment loan, you are purchasing the item and agreeing to make installment payments over a specific term plus any associated interest rote. RISCs are made by the merchant and on installment loans made by a bank or other lender. A closed-end consumer lease agreement doesn't have an interest rate, but rather charges monthly leasing fees. With a closed-end consumer lease, you are leasing the item(s) from a lessor and have the option to purchase the item during the course of the lease.