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| SPARTA TO PROVIDE PRIVATE LABEL FINANCING FOR E-TON AMERICA
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| E-Ton America Signs With Sparta Commercial Services For Leasing And Retail Installment Financing |
| New York; September 15, 2004 |
Sparta Commercial Services and E-TON America today announced an agreement that will provide programs for consumer financing and leasing for all E-TON branded scooter 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 consumers 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 (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 (www.etonamerica.com) is the South Carolina based exclusive importer of E-TON scooters and ATVs.
For further information, contact Ed Menken, VP, Sparta Commercial Services, at 1-888-439-0200, or Doug Mahan, VP, E-TON America, at 1-864-595-9888.
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