Sparta to Provide Private-Label Financing for E-TON America
15 Septiembre 2004 - 12:15PM
PR Newswire (US)
Sparta to Provide Private-Label Financing for E-TON America E-TON
America Signs With Sparta Commercial Services for Leasing and
Retail Installment Financing NEW YORK, Sept. 15
/PRNewswire-FirstCall/ -- Sparta Commercial Services (OTC:SRTA)
(BULLETIN BOARD: SRTA) and E-TON America today announced an
agreement that will provide programs for consumer financing and
leasing for all E-TON branded scooters and ATVs imported into the
U.S. The agreement between Sparta and E-TON America will be the
third such program that Sparta has recently entered into with
U.S.-based distributors of powersport vehicles manufactured
overseas. According to Anthony Havens, CEO of Sparta, "The light
vehicle segment of the powersports market is the fastest growing,
and Sparta is pleased to be bringing these quality brands into the
fold, offering the kind of consumer financing options that only the
bigger names have enjoyed thus far." Doug Mahan, VP of E-TON
America, says of the new program, "As outstanding as our growth has
been over the last several years, we fully expect that this
private-label program provided by Sparta will increase our sales
dramatically." "The program will," Havens continued, "offer leasing
and/or retail installment programs to E-TON customers at rates and
with terms that these types of units rarely had available until
now. Too often, consumers had to make these purchases with credit
cards, and the credit card interest rates for these purposes are
much too high. But with this new program, dealers will be able to
move more product and have more satisfied and loyal customers, and
that's what this business is about." The program will be run
through a customized financial services website built by Sparta
exclusively for the nearly 700 E-TON dealers throughout the United
States. Dealers will process all transactions online, including
consumer contract downloading, and have real-time access to the
growing database of customers on an on-going basis. According to
Havens, "Our criteria, along with an extremely knowledgeable team
of credit analysts, is sure to result in an appreciably higher
bottom line every year for E-TON America and its entire dealer
network." Mahan then added, "Our dealers have been hoping for this
kind of program for a long time, and they couldn't be more excited
now that it's finally happening." Sparta Commercial Services
(http://www.spartacommercial.com/), a New York-based company, is an
independent financial services group exclusively dedicated to the
U.S. powersports industry. E-TON America
(http://www.etonamerica.com/) is the South Carolina based exclusive
importer of E-TON scooters and ATVs. 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,
amount of, obtaining and satisfying terms 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. DATASOURCE:
Sparta Commercial Services CONTACT: Ed Menken, VP of Sparta
Commercial Services, 1-888-439-0200, or Doug Mahan, VP of E-TON
America, at +1-864-595-9888 Web site:
http://www.spartacommercial.com/ http://www.etonamerica.com/ x
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