In a simple Volvo lease

P pays O a rental for the use of the car during the agreed period which may be a few days (e.g. for a holiday trip) or longer where it is more economic to pay for use rather than pay for the ownership of an asset of depreciating value.

Normally, only P will be allowed to use the vehicle and, in such a case, P has possession and control. But, P could be an employer who allows C the use of the car to visit clients, and thereby gives C control.

Volvo dealerships can arrange for a competitive Volvo lease,
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In a Volvo lease with the possibility of purchase

O could allow P to lease the Volvo car for a specified period of time. If all the Volvo car lease payments are made in full and on time, P will then be allowed to buy the car at a low or nominal price. It is relatively unusual for the owner to offer these forms of agreement. More usually, a finance company is introduced as a third party into the transaction. Hence, O sells ownership of the car to F, and F then leases the car to P. It is standard for the contractual terms to prohibit P from parting with possession or control of the car to another (if P does part with possession, this can be a theft of the car from F). In the U.S. this is called Closed-end car leasing. In other jurisdictions, it is called hire purchase, lease purchase or finance leasing.

These car lease transactions are complicated. The most common problem arises when O makes specific representations as to the quality and reliability of the car to P during the initial negotiations. If what is said induces P to buy the car from O, those representations would usually be enforceable against O. But, in this transaction, O first sells the car to F who makes no representations to P. The laws vary from state to state on the extent to which P might be allowed a remedy if the car proves to be of poor quality.

Source: www.wikipedia.com