The key difference would be what happens if you stop paying. Otherwise it’s just a lease with a purchase option at the end. If you can walk away from the lease with no further repercussions, then I can buy that it’s not technically a loan. If the lessor can pursue you for further payments or charges you fees and etc, then it’s just a regular loan with built in interest rate, and it’s a childish way to attempt to get around “interest”.