The capacity of the equipment is considered in the decision to buy or not buy the equipment. Once the decision has been made, the capacity is not relevant in the decision as to how to purchase the equipment - through a loan or a lease.
The interest rates of the lessee and the lessor will determine whether or not the interest rate in the lease will be comparable to a bank loan.
The tax implications of both the lease option and the loan option need to be considered. The tax effect may be different based on the different interest rates between the two options and the different amounts to depreciate under the two options.
The time in which the asset becomes obsolete is relevant in the decision as to how to finance the purchase. If there is a short time until the equipment becomes obsolete, the company is more likely to lease the asset. If they took out a loan, they may be paying back the loan after the asset has already stopped being useful. This is not the proper timing of cash flows if they are paying for something that they are not benefiting from.
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