|
|
| < Back to News |
| Armet Deal Represents Potential $5 Million in Lease Purchase Agreements for Sparta Commercial |
| New York; March 10, 2010 |
Sparta Commercial Services, Inc. in following up on its strategic agreement with Armet Armored Vehicles, a global leader in the manufacturing of tactical armored and other specialty vehicles for governmental and other markets, is pleased to report a potential annual $5 million in Municipal Lease Purchase agreements generated from this relationship.
Armet Armored Vehicles has chosen Sparta Commercial Services as the primary sales and financing option for Municipal Lease Purchases by local, county, and state governmental agencies that acquire specialty vehicles from Armet. Armet Armored Vehicles focuses on a market that represents $1 billion dollars in the United States alone. In keeping with a conservative outlook of a 0.5% market penetration, this can generate a potential $5 million in annual Lease Purchase agreements for Sparta Commercial Services. Sparta expects this positive growth through the Lease Purchase option for Armet’s product line will enhance Sparta’s already growing Municipal Lease Financing Program. In these trying economic times for all levels of government, the combination of Armet Armored’s superior products, and Sparta Commercial Services’ Lease Purchase option, represents the ideal way for all appropriate agencies to keep up to date with their security and other law enforcement needs, while lowering the up front capital outlays that traditional outright purchases require.
With Sparta’s appointment of Joseph Peters, an expert in law enforcement and counter-terrorism, as Strategic Development Consultant, Sparta believes that Peters’ involvement, through his extensive knowledge and experiences with law enforcement agencies across the country, will produce a growing number of Municipal Lease Purchase agreements for Sparta throughout the United States.
Sparta Commercial Services’ expanded offerings permit it to capitalize on a growing market trend. Local and State agencies, with difficult economic challenges, do not have the necessary money in their budgets to keep up to date with all their equipment needs. Sparta’s Municipal Lease Product is the most attractive option for these agencies since it makes it possible for them to spread the cost of the equipment over time and still allows them to own the equipment outright at the end of the term of the lease.
Contact:
Dick Trotter, COO
Sparta Commercial Services, Inc.
212-239-2666
|
| < Back to News |
|
|
