Sparta Commercial Welcomes Caldwell, NJ To Its Municipal Lease Program

NEW YORK, Nov. 27, 2012 /PRNewswire/ -- Sparta Commercial Services, Inc. (OTCBB: SRCO) today announced that Caldwell, New Jersey, has become the sixth and most recent jurisdiction in that state to turn to Sparta's Municipal Lease Program for the acquisition of essential equipment. In this instance, Caldwell's need was for the motorcycle unit of its police department, and the American built Harley-Davidson brand was chosen, with the vendor being Liberty Harley-Davidson of Rahway, NJ.

Commenting on the transaction, Ryan Rasimowicz, Sales Manager at Liberty Harley-Davidson, said, "While this is not the first time our dealership has worked with Sparta's Municipal Leasing Division, it is my first experience as the lead person at Liberty, and my experience with them this time has been outstanding. They really know their business, and their staff makes the whole process simple and easy to complete. We enjoy supporting our local Police Departments and are looking to do more of this type of business in the near future."

Police Chief James Bongiorno of the Caldwell Police Department added, "This is our first experience with Sparta's Municipal Lease Division, and I hope it won't be the last. From a budgetary point of view, the lease made good sense to us.  Like a lot of municipalities around the country these days, our budget allocations always require difficult choices. But with the Sparta program, the ability for our department to pay over time, as opposed to an all up front outlay, eased the challenge, and we're especially pleased with that."

The Sparta Municipal Lease Program can accommodate a broad range of assets, including police motorcycles and cruisers, EMS and fire equipment, trucks and busses, surveillance equipment and tactical vehicles, and virtually any type of essential materiel required by most government agencies.

About Sparta Commercial Services, Inc.

Sparta Commercial Services, Inc. is a New York-based technology company that has roots in the powersports industry where it had originally focused primarily on providing consumer and municipal financing to powersports, recreation, and auto industries.  Through its subsidiary, Specialty Reports, Inc. the Company offers a range of online tools and products that include a Mobile App product for Powersports, Recreational Vehicle, Watercraft, and Auto dealers, that allows them to build and manage their own custom dealer application that will be 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); and CarVINreport, providing Automobile and Light Truck History Reports (www.carvinreport.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.

Contact:

Sandra L. Ahman 
Corporate Secretary 
Sparta Commercial Services, Inc. 
(212) 239-2666

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. 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

SOURCE Sparta Commercial Services, Inc.