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FinancialsOuch! Residual losses are the worst in seven yearsOuch! Residual losses are the worst in seven years
Overinflated residual forecast rates on leased vehicles hit a seven-year peak, and providers are moving to reduce their risk and resultant losses on off-lease units.Bank One has become the latest provider to back off two-year leases, for example.The 24-month leases or variations thereof, such as 18 or 27 months, were popular the mid-1990s, but too many lessors found that quicker turnbacks of units