The minimum lease period, often called the primary period, is the initial term you commit to when you take a lease. Over that period the rentals are set to recover most of the lender’s investment in the asset. You cannot simply hand the asset back partway through without settling what is owed.
Once the primary period ends, many finance leases allow a secondary period, where you continue using the asset for a much lower annual rental. Alternatively the end-of-term options in the agreement apply — extending, arranging a sale on the lender’s behalf, or returning the asset.
The practical point is commitment. Choosing a longer primary period usually lowers the monthly rental but locks you in for longer and increases the total paid. Choosing a shorter one raises the monthly cost. If you need to exit early, the lender will normally quote a settlement figure covering the outstanding rentals, and this can be substantially more than you expect.
Before signing, check the length of the primary period, what happens afterwards, and what early termination would cost. Available terms depend on the asset and the lender’s assessment.