NEW YORK, NY--(Marketwired - Dec 10, 2013) - Sparta Commercial Services, Inc. (OTCQB: SRCO) (the "Company") today announced that the city of Raleigh, NC has, for the second time, called on its Municipal Leasing Division for the replacement of the city's police motorcycles with new BMW vehicles.
Sparta's Municipal Leasing Program has become a highly popular source for the acquisition of essential equipment by cities, towns, and other municipal jurisdictions around the country in recent years. The popularity of the program is due to its ability to provide governmental agencies with a more economical method for needed vehicles and other equipment than traditional up-front purchasing. The Sparta alternative enables jurisdictions to spread the payments over time, making the budgeting process much more flexible while still securing the often costly items that are required.
The vendor for the transaction is Raleigh-based Capitol BMW, which has provided the vehicles in four previous Sparta leasing transactions. Commenting on the experience with Sparta, Capitol BMW's Principal, Garrett Garcia, said, "Capitol BMW teamed with Sparta's Municipal Lease Division several years ago to provide an effective and seamless process for our police customers to acquire new motorcycles for their departments. Sparta always makes it an efficient and pleasant experience, and their program makes the process a 'win-win' for everyone."
Sparta has already serviced ten other North Carolina agencies, including the cities of Charlotte and Greenville, and has just added an eleventh, with the town of Holden Beach, for a Dodge Charger police cruiser replacement for their law enforcement department. Sgt. Frank Dilworth said, "This was our first experience with Sparta's Municipal department, and it couldn't have gone smoother. They really understand the needs of a local agency in pursuing a new financing process, and we certainly benefitted from that."
The vendor for the Holden Beach transaction is Ilderton Chrysler Jeep Dodge in High Point, NC, and this is the eleventh transaction the dealership has conducted with Sparta's Municipal Lease Division.
For more information about the Sparta Municipal Lease Program, visit www.spartamunicipal.com, or call 800-882-0778.
About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. is a New York-based technology company that originally focused primarily on providing consumer and municipal financing to powersports, recreation, and auto industries. Through its subsidiary, Specialty Reports, Inc., the Company now offers a range of online tools and products that include a Mobile App product for Powersports, Recreational Vehicle, Watercraft, and Auto dealers, which allows the dealers to manage their own custom dealer mobile applications that are made available on multiple platforms such as iPhone, iPod Touch, iPad, Android Mobile, Android Tablet and Kindle Fire, giving consumers access to the dealerships' inventory, sales and service departments, hours, locations, special events and more (www.specialtymobileapps.com); Cyclechex, providing Motorcycle History Reports (www.cyclechex.com); RVChecks, providing Recreational Vehicle History Reports (www.rvchecks.com); CarVINreport, providing Automobile and Light Truck History Reports (www.carvinreport.com); and Truckchex, providing Heavy Duty Truck History Reports (www.truckchex.com). All of the vehicle history reports cited above are designed for consumers and retail dealers as well as for auction houses, insurance companies and banks/finance companies. Sparta continues to administer an ever-growing Municipal Leasing Program for local and/or state agencies throughout the country seeking a better and more economical way to finance their essential equipment needs; from police motorcycles and cruisers, to EMS equipment and busses, to virtually any type of equipment required. Sparta is an innovative and diversified Company dedicated to identifying the needs and interests of its targeted markets, and developing products and services specifically designed to meet those needs and interests now, and well into the future.
This news release contains forward-looking information within the meaning of federal securities regulations. These forward-looking statements include statements related to the possible outcome of this case or any other litigation. These forward-looking statements involve risks and uncertainties, including those described from time to time in the Company's filings with the Securities and Exchange Commission (SEC) that could cause the actual results to differ materially from those anticipated by these forward-looking statements. In particular, the ultimate outcome of this case or any litigation is always uncertain and may differ materially from what is currently anticipated. The Company assumes no obligation to update any forward-looking information contained in this press release.