Automotive Capital Group, Inc. Completes Independent Audit
Plans to File Form-10SB to Become Fully Reporting Company Soon
SCOTTSDALE, Ariz., July 19 -- Automotive Capital Group, Inc announces today the completion of the company's independent financial audit. This is the first major step in its plan to become a fully reporting company and move from the Pink-Sheet markets to the American Stock Exchange (AMEX.)
The goal of the company is to increase shareholder value by filing quarterly financial statements. Automotive Capital Group, Inc. is of the opinion that future quarterly reports will reflect that the company is past the start up stage.
Automotive Capital Group, Inc. was established in 2004 as a publicly traded automotive holding company seeking investment opportunities in all aspects of the automotive retailing business.
1. Auto Capital Group (www.AutoCapitalGroup.com) will finance individuals as well as auto sales companies to provide specialty loans on automobiles with interest rates from 29.9% to 35%. AOCP now also has the ability to provide auto insurance to bind the auto coverage of the purchaser at the same time the auto loan and sale of the car occurs. This service is needed by car dealers for qualified buyers who do not have auto insurance at the time of the sale so that the sale is not lost and the customer can drive off the lot without having to wait to bind auto insurance coverage.
2. Title Loans (www.TitleLoanHelp.com), a fast growing, new market that has recently sprung up in the past couple years. This division is looking to provide loans against paid in full autos and refinance current title loans at a discounted interest rate of 35%. TitleLoanHelp.com was created to offer buyouts of current title loans at 1/4 of the current rates. This division can be marketed to both individuals and the actual title loan companies that are looking to sell loan paper. Typical title loans are 295% per year compared to AOCP at 35%.
3. Premium Finance, our company has launched an aggressive program for Auto Premium Financing. AOCP is fortunate to have formed a business relationship with a large insurance agency that will direct most of its commercial insurance business to our premium finance company.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment.
We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements.