MINNEAPOLIS, June 27, 2013 (GLOBE NEWSWIRE) -- Advanced Credit Technologies, Inc. (OTCBB:ACRT) announces that we have signed licensing agreements with Kings Auto Show with locations in Brooklyn, NY and Linden, NJ. We have also signed a license agreement with Automotive Concepts which has five dealerships in the Minneapolis/St Paul area. These dealerships will be offering our TurnScor credit management software to their customer base to fortify their credit applications with their lenders.
The pre-owned vehicle sector represents an enormous opportunity for the Company in as much as the sector consists of the perfect demographic for our platform as it relates to both the wholesale and retail markets. This sector is comprised of 119,451 total Pre Owned Car/Truck Dealerships, which is over six times the size of the "New Car" market in terms of franchises and or independent dealerships owned. These statistics were verified by IBIS World Market Research in their 2011 report on this market vertical ( www.marketresearch.com ).
The opportunity here for our Company is to assist the dealerships and ultimately the customer in attaining and or maintaining a credit score necessary for buying or leasing a new or pre-owned car or truck.Based on our initial launch results, the company has determined that a 1% market share is feasible and attainable as we expand our awareness and marketing capabilities in the near future. TurnScor as a "value added service" will undoubtedly bring in additional referrals and build "brand loyalty" to each of these dealers as well as our product. By simply adding our software into their existing sales and marketing budget for $395.00 per month it is very easy for the dealer to get on board with this forward thinking software. They get unlimited use of our credit repair platform and allowing the customer to use a life changing credit management software program with a retail value $399.00 for no charge since it is absorbed at the dealer level. This is a great way to separate a dealer from its competitors.