Depending upon the lender, usually you can do one of the followings:
Return the equipment at the end of the lease with no further obligation. Assuming the equipment is in normal working condition; any security deposits paid will be refunded back to you.
You may trade in or upgrade the equipment for a lease on newer equipment. You may effectively get the value of a trade-in on equipment you didn’t even own.
You may purchase the leased equipment on agreed buyout amount at start of the lease.