New York, NY., July 1, 2015 (GLOBE NEWSWIRE) -- Sparta Commercial Services, Inc. (OTCQB: SRCO) today announced that the City of Beaumont in Texas has become the latest jurisdiction to take advantage of Sparta's growing Municipal Lease program with the city's acquisition of a fleet of new BMW police motorcycles for its police department.
In recent years, an ever-increasing number of cities, counties, and towns across the country have turned away from the tradition of purchasing their essential equipment, which requires total up-front payments, in favor of Sparta's Municipal Lease Program. The Sparta program enables municipalities to pay the cost of equipment over time, providing local government agencies with the benefit of lowering their annual capital outlays as they acquire the critical equipment they need.
The Sparta Municipal Lease Program can accommodate a wide variety of asset classes, from cars to motorcycles, from fire equipment to tactical vehicles, from trucks to busses, and virtually any type of essential-use equipment in which cost is more favorably budgeted through multi-year leasing, rather than outright purchase.
Commenting on the transaction, Jim Stockstill, Sales Manager at the delivering dealership, Gulf Coast BMW, said, "This was our first time engaging in this type of lease transaction and we weren't sure what to expect. We spoke with Sparta's Municipal Leasing team and they were able to ensure that all of our needs, as well as our client's needs, were met in the most effective manner possible. The staff at Sparta partnered with us and assisted from contract execution all the way to delivery and funding. The next time we are approached to lease equipment to any of our local police agencies, we wouldn't hesitate to contact Sparta again."
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