NEW YORK, NY -- (Marketwired) -- 07/16/13 -- Specialty Reports, Inc. (SRI), a subsidiary of Sparta Commercial Services, Inc., (OTCQB: SRCO) announced today that its Online Vehicle History Reports Group has achieved a year-over-year increase of 15.83% in online sales of its combined Cyclechex (www.cyclechex.com) and RVchecks (www.rvchecks.com) vehicle history reports for the full year ending June 30, 2012, over the full year ending June 30, 2013.
The Vehicle History Reports Group of SRI has now sold its online history reports in all fifty states and the District of Columbia as well as in forty-seven other countries.
In addition to direct access through the respective websites, the vehicle history reports are also featured on both NADAGuides.com and KBB.com, the two dominant online sources for pre-owned vehicle values and other important information for both buyers and sellers.
By visiting either of the SRI websites, entering a vehicle's seventeen digit Vehicle Identification Number (VIN) and paying a modest fee, the Cyclechex or RVchecks system can inform consumers, dealers, insurers, lenders, and any other interested party of any reported damage, salvage titles, the most recent reported mileage, and other valuable information, regardless of the vehicle's country of origin.
For retail dealers or private parties wanting to sell a motorcycle or recreational vehicle, the relevant online vehicle history report is a powerful tool, demonstrating to any prospective buyer the vehicle's actual title history and thereby assuring a level of comfort. Given the fact that these types of pre-owned vehicles can be quite expensive, a vehicle history report is becoming a virtual necessity for any potential buyer. Additionally, any financial institution that is considering a loan for the purchase of a pre-owned vehicle is well served with a vehicle history report that can more fully inform them concerning the collateral, as they make their decision. Similarly, retail dealers and insurers are also well served by a detailed vehicle history report for their respective interests.
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 the dealer to manage their own custom dealer mobile application 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); 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 (www.spartamunicipal.com) 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. The company also partners with a provider to offer its customers merchant services as well as working capital and expansion loans.
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
Sandra L. Ahman
Sparta Commercial Services, Inc.
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