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Van rental giant Northgate has warned of falling profits as the financial climate hits used van residual values. It's predicting a recovery, though, as businesses recognise the advantages of renting rather than owning vehicles.
Northgate's residual values have reportedly dropped five to 10 per cent for vehicles sold at 30 months old. The company was said to be considering extending the life of its vehicles to counter the depreciation, and was not likely to continue buying as many vans.
