You pay the agreed deposit, V.A.T. on the full purchase price and then finance the balance over a suitable period with fixed monthly payments.
The finance company purchase the asset and then "lease" it to you for a fixed period at a fixed monthly rental. You pay the agreed initial rental followed by fixed monthly rentals for a fixed period.
This is where the finance company agree to purchase from you one or more assets and lease them back to you on a standard leasing agreement. This enables you to raise money on assets that you own or in which you have substantial equity.