New York, NY., April 12, 2016 (GLOBE NEWSWIRE) --
Sparta Commercial Services, Inc. (OTCQB: SRCO) today announced that Yemassee, South Carolina has become the latest jurisdiction to join a large group of municipalities as a client of Sparta's Municipal Lease Program. Yemassee is now the ninth South Carolina agency utilizing the Sparta Municipal Program to meet its essential equipment needs.
The principal value of Sparta's Municipal Lease Program for municipalities across the country is that instead of having to purchase their vehicles or other essential and expensive equipment outright and paying the entire cost up front, the Sparta Lease enables these agencies to spread the cost over several years, thereby avoiding large capital outlays in a given budget year. This is the major attraction to the Sparta program for towns and cities that are struggling with competing budget needs and looking for ways to acquire the important equipment they need without large, up-front expenditures.
Commenting on the experience with Sparta's Municipal Lease Division, Amy Hill, Fleet Sales Manager at Butler Chrysler Dodge Jeep, the dealer that delivered the equipment to Yemassee, as well as to other local police agencies, added, "We have completed numerous transactions of this type with Sparta's Municipal Division, and I hope there will be many more. In our business, whenever we're providing police cars to local governments under a lease arrangement, it is essential that the process be easy and smooth. Sparta goes far beyond our expectations, and always has."
Anthony Havens, Sparta's CEO, said, "We're excited to add yet another municipality in South Carolina to our roster of Municipal Lease clients, and we're pleased that Yemassee chose Sparta as the financing source to meet their critical needs. Once again, a forward thinking jurisdiction recognized that our Municipal Lease Program is a smart, economical way to acquire essential equipment."
About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. (http://spartacommercial.com/) is a leader, in developing, managing, and servicing custom mobile apps for dealer networks and businesses, in providing motor vehicle history reporting to dealers and consumers, and offering and administering vehicle and capital lease programs for municipalities.
Sparta's Mobile Applications Division offers two customizable mobile app products specifically designed for vehicles dealers and for small and growing companies.
iMobileApp (http://imobileapp.com/) is the newest mobile app product from Sparta – providing diverse small and growing companies with a customized mobile app for their businesses, at a fraction of the cost of traditional and web marketing.
Specialty Mobile Apps (http://www.specialtymobileapps.com/) is a product that gives vehicle dealers their own branded mobile app. The app allows dealers to stay in contact with their customers and communicate upcoming and ongoing promotions, special events, new and used inventory, and more.
Specialty Reports, Inc., a subsidiary of Sparta Commercial Services, provides detailed used vehicle title history reports to dealers, insurance companies, credit unions, etc., as well as to consumers. Specialty Reports (http://specialtyreportsinc.com/) is trusted by industry professionals to provide buyers accurate, timely, and thorough title history reports. The Company targets four motor vehicle markets through https://www.carvinreport.com/ (automobiles and light trucks), https://cyclechex.com/ (motorcycles), https://www.rvchecks.com/ (recreational vehicles) and http://truckchex.com/ (commercial trucks).
Sparta's Municipal Leasing Division (http://spartamunicipal.com/) offers and administers a specialized municipal leasing program for local and state agencies. The Company is dedicated to serving jurisdictions with small and growing vehicle fleets who seek 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 a municipality requires. The Municipal Leasing Division also works with larger jurisdictions to provide competitive leasing facilities for specific segments of their fleet portfolio.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are valid only as of today and we disclaim any obligation to update this information. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to potential future losses, competition, financing and commercial agreements and strategic alliances, seasonality, potential fluctuations in operating results and rate of growth, management of potential growth, system interruption, consumer and industry trends, limited operating history, and government regulation. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC, which are available on its website at: http://www.sec.gov.
Contact:
Sandra L. Ahman
Corporate Secretary
Sparta Commercial Services, Inc.
sandy@spartacommercial.com
800-882-0778