While a financing lease will likely provide a lessor with the right to purchase the equipment at the end of the lease, a mechanic's lien covering the same equipment would entitle the mechanic to retain possession of the property until payment for the repair is received. Failure to pay for the repair altogether will entitle the mechanic to sell the equipment at fair value, to satisfy its outstanding account with the proceeds, and to forward any excess balance of funds remaining to the bailor.

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A mechanic's lien allows a mechanic to retain possession of the equipment until payment for the repair is received and to sell the equipment to satisfy the outstanding account if necessary. This is different from a financing lease, where the lessor may have the option to purchase the equipment at the end of the lease.

While a Financing Lease Will Likely Provide a Lessor with the Right