SOURCE: Sparta Commercial Services, Inc.

October 14, 2014 08:45 ET

Holden Beach, NC Returns to Sparta Commercial's Municipal Lease Program for New Dodge Ram Special Service Vehicles

NEW YORK, NY--(Marketwired - Oct 14, 2014) - Sparta Commercial Services, Inc. (OTCQB: SRCO) today announced that the Town of Holden Beach, NC has, for the second time, utilized Sparta's Municipal Leasing Division for acquiring additional vehicles for their Police Department's Special Vehicle fleet.

Sparta's Municipal Leasing Program is a highly popular source for the acquisition of essential equipment by cities, towns, and other municipal jurisdictions around the country. The popularity of the program is due to its ability to provide governmental agencies with a more economical method for acquiring 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.

Commenting on this latest transaction, Tony Havens, CEO of Sparta Commercial Services, Inc., said, "We've seen a clear pattern in that municipal agencies that use our program often use it again as new needs arise. This naturally recurring business is great for the company as it allows us to concentrate our marketing efforts in more needed places, and it is great for the clients we serve as they can be confident that they will be supported by a reliable solution when new equipment is required."

Sparta has already provided finance leasing to eleven other North Carolina agencies, including the cities of Raleigh, Charlotte and Greenville.

The vendor for the transaction is Ilderton Dodge Chrysler Jeep Ram, based in High Point, NC, which has provided the vehicles in a dozen previous Sparta leasing transactions.

About Sparta Commercial Services, Inc.

Sparta Commercial Services' Municipal Leasing Division (http://www.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. 

Sparta (http://spartacommercial.com/) is a leader in providing motor vehicle history reporting to dealers and consumers, developing and managing custom mobile apps for dealer networks and businesses, and offering and administering vehicle and capital lease programs for municipalities.

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 give 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 Mobile Applications Division offers a customizable mobile app product for vehicle and power-sport dealer networks, as well as a mobile app product for growing businesses. Specialty Mobile Apps (http://www.specialtymobileapps.com/) is a product that gives dealers their own branded mobile app. The app allows dealers to stay in contact with their customers and communicate about promotions, special events, new inventory arrivals, and more. iMobileApp (http://imobileapp.com/) is the newest mobile app product from Sparta -- providing small and growing companies with a customized mobile app for their businesses, at a fraction of the cost of traditional and web marketing.

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.

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