NEW YORK, NY--(Marketwired - Feb 13, 2014) - Sparta Commercial Services, Inc. (OTCQB: SRCO) announced a reciprocal marketing agreement with Allstate Insurance Company. As part of the agreement, Sparta's Cyclechex online motorcycle history reports will be available to Allstate customers and non-customers who are considering the purchase of a pre-owned motorcycle or are selling a motorcycle and wish to provide assurance to potential buyers. Allstate will also have the option to offer its insurance products to Cyclechex customers.
Under the agreement, Allstate will provide a prominent placement and recommendation for Cyclechex on the Allstate Rider News page (www.allstateridernews.com/offers). Conversely, Sparta will establish a signature presence for Allstate insurance products on the Cyclechex website (www.cyclechex.com).
A Cyclechex report can be purchased by clicking on the Cyclechex link on the Allstate Rider News website, entering the 17-digit Vehicle Identification Number (VIN), and, for a reduced fee, retrieve the available historical title information immediately, regardless of the vehicle's country of origin. Cyclechex reports allow users to instantly see a motorcycle history report, which may include VIN decoding, disclosed damage, salvaged or stolen titles. The reports gather their data from multiple sources, including, but not limited to, governmental agencies, in order to provide the most current information available.
"This relationship will help in our effort to provide the best possible customer experience to existing and potential customers from their initial purchase to the sale of their motorcycle," said Jeff Sadler, Allstate powersports line manager. "Assuring customers' buying decisions will provide peace of mind, just like our motorcycle policy does as they enjoy the ride."
Cyclechex, a leading online source for title history information about previously owned motorcycles, provides data about a particular motorcycle's title history, including reported damage, last reported odometer reading, salvaged or rebuilt title, reported theft, recall history, and more.
Cyclechex history reports have been purchased by consumers in all 50 states, the District of Columbia, and 47 foreign countries. Cyclechex sales have grown steadily year after year since the product was introduced in 2010.
"This relationship with Allstate Insurance represents another important milestone for our Cyclechex product, and a particularly significant one," said Anthony Havens, Sparta's CEO. "To be aligned with such a powerful brand as Allstate is something we are especially proud of. We're confident that the cross-marketing activities will prove to be highly beneficial to both companies."
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.