GMAC Inc.'s re-entry into vehicle leasing marks a momentous about-face for the lender, which was forced to exit the leasing market last year amid a paucity of capital and losses on its auto lease book.

But for the time being, GMAC, which is coping with still hefty losses from its struggling mortgage business, is unlikely to return to its traditional levels of lease financing. Leasing "is going to be used selectively and where it makes sense," said Gina Proia, a GMAC spokeswoman.

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