SOURCE: Sparta Commercial Services, Inc.

August 18, 2008 09:00 ET

Sparta Commercial Services, Inc. Seeks an Increasing Share of the $8 Billion-Plus Motorcycle Market

Company Aggressively Pursuing Market Share With Flexible Financing and Leasing Products as Fuel Prices Continue to Drive Consumers to Seek Other Transportation Options

NEW YORK, NY--(Marketwire - August 18, 2008) - Sparta Commercial Services, Inc. (OTCBB: SRCO), a national provider of consumer finance solutions to the powersports industry, is stepping up its marketing and sales initiatives to capture what the company believes to be the thirty percent of the motorcycle financing and leasing market not currently served by its competition. The company estimates that this equates to an estimated $2.2 billion in annual motorcycle sales not served by its competitors in the 600cc plus Motorcycle market segment.

"Currently we have an unprecedented opportunity to capture a significant portion of the market for financing and leasing motorcycles and scooters," commented Anthony Havens, Sparta's CEO. "Soaring fuel prices, increasing personal environmental responsibility, and the impact of the mortgage debacle on larger finance companies has created a perfect storm; consumers are demanding options. This is a unique economic and social environment, one that comes along very rarely, yet offers tremendous potential."

Havens added, "The current market is similar to the early days of the automotive leasing market, which changed the way automobiles were acquired, and boosted overall auto sales tremendously. The motorcycle and scooter leasing market is now only in its infancy. We intend to capitalize on this niche by providing the right product with the best customer service in the business. We believe our past and future results will demonstrate our understanding of the powersports industry and our ability to become a dominant player."

About Sparta Commercial Services

Sparta Commercial Services, Inc. (www.spartacommercial.com) is a national provider of financing solutions to the powersports industry. The company is currently the only nationwide full-service, independent, Web-based finance company offering a lease solution combined with the traditional retail purchase contract for the Powersports Industry. Headquartered in New York City, with its Dealer Support Group located in Houston, Texas, Sparta offers programs for manufacturers, distributors, and dealers. Sparta provides a full line of financing packages including indirect retail installment sales contracts and direct closed-end leases, as well as related services for individuals, fleets and municipal organizations.

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, obtaining, satisfying terms of, and amount of credit lines, 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.

Contact Information

  • Contact:

    Dick Trotter
    COO
    Sparta Commercial Services, Inc.
    (212) 239-2666

    Investor Relations:

    Mark Moline
    Cinapsys, Inc.
    760-458-4899
    m@cinapsys.com