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Yes, people lease domain names. However you will need to consider which is the more attractive option for you; leasing or just selling your domain. For an example, you could lease a domain for $1000 USD/yr for 10 years or just sell the domain for $10k the next time someone asks.
You cannot buy a domain name permanently. Domain name registration is done on a yearly basis. However, you can pre-pay for up to 10 years which guarantees that you will have a domain name for 10 years.
A domain name can be up to 63 characters (letters, numbers or combination) long plus the 4 characters used to identify the domain extension (.com, . net, . org). The only symbol character domain names can include is a hyphen (-) although the domain name cannot start or end with a hyphen nor have consecutive hyphens.
Yearly Renewals Domain name registration is done on a yearly basis. You can maintain control over your domain name as long as you continue to renew your registration each year. Some domain registrars offer domain name discounts on first year purchase, but their renewal costs are much higher.
How can I buy a domain name permanently? You cannot buy a domain name permanently. Domain name registration is done on a yearly basis. However, you can pre-pay for up to 10 years which guarantees that you will have a domain name for 10 years.