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| SPARTA COMMERCIAL SERVICES LAUNCHES iPLUSTM PLATFORM
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| iPLUSTM Provides Immediate Point of Sale Credit Decisions and Contract Processing |
| New York, NY; August 2, 2005 |
Sparta Commercial Services, Inc., an Internet-based sales finance and leasing company dedicated exclusively to the powersports industry, announced today it has launched its proprietary point of sale, web-based origination platform, iPLUSTM (Internet Purchasing Leasing Underwriting Servicing).
The proprietary iPLUSTM software allows immediate point of sale credit application decisioning and contract processing. Structured as an Application Service Provider "ASP," iPLUSTM has the ability to provide dealers with conditional funding approvals, via the Internet, 24 hours a day, seven days a week. After submitting a brief customer financial profile via iPLUSTM, dealers receive a credit decision in less than two minutes. For the approved customers, the dealer is given the maximum monthly payment specific to the individual customer, and the dealer is therefore able to target the sales effort to the customer’s individual needs and financing capacity. Should questions arise, Sparta provides telephone-based assistance through its Dealer Services Group.
Anthony L. Havens, Sparta's CEO, commented, "We are pleased to have this key element of our business platform fully operational. Our investments of time, money, and resources have proven to be worthwhile, as iPLUSTM represents a tremendous, efficient, and scalable business tool for Sparta, as well as a competitive advantage for both Sparta and our dealers. Dealer reception to iPLUSTM has been very strong, as it answers their need for prompt, reliable funding decisions that enable them to maximize their sales potential."
Powersports dealers interested in iPLUSTM and Sparta’s sales finance and leasing solutions should visit the Sparta Web Site: www.spartacommercial.com or contact Sparta Dealer Services at (800) 882-0788.
About Sparta Commercial Services:
Sparta Commercial Services, Inc. (www.spartacommercial.com) is an Internet-based acceptance (sales finance) and leasing company dedicated exclusively to the powersports industry, concentrating on motorcycles over 600cc, 4-stroke all-terrain vehicles, and select scooters through private label programs for manufacturers’ distributors. Sparta provides a full line of financing solutions including indirect retail installment sales contracts and direct closed-end leases, as well as related services including GAP coverage and vehicle service contracts.
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