Consumer Portfolio Services Inc. (CPSS)

Overview

Consumer Portfolio Services, Inc., established in 1991 and based in Las Vegas, Nevada, identifies as a specialty finance company within the United States. The company's core operation revolves around the acquisition and servicing of retail automobile contracts, which are originally initiated by franchised and select independent automobile dealers during the sale of new and used automobiles, light trucks, and passenger vans. Notably, Consumer Portfolio Services, Inc extends its financial services primarily toward dealers' customers who possess limited credit histories or have encountered past credit challenges, thereby positioning itself as a vital financing alternative beyond traditional commercial bank loans, credit unions, and captive finance companies' offerings. Furthermore, the company's operational footprint spans across several key states, including California, Nevada, Virginia, Florida, and Illinois, enabling a national reach in its service offerings.

Products and Services

• Indirect Financing for Automobile Purchases

Through the purchase of retail automobile contracts from franchised and select independent dealers, Consumer Portfolio Services provides an essential indirect financing solution. This service is particularly tailored to facilitate vehicle purchases for individuals with constrained credit profiles, including those with limited credit histories or previous credit problems.

• Alternative Financing Solutions for Dealers

The company stands as an alternative financing conduit for automobile dealers, enabling them to secure sales with customers who are otherwise unable to attain financing through conventional channels such as commercial banks, credit unions, and captive finance institutions.

• Acquisition of Installment Purchase Contracts

Beyond its primary services, Consumer Portfolio Services also engages in the acquisition of installment purchase contracts. This venture often materializes through merger and acquisition activities, and occasionally, the company purchases vehicle purchase money loans from non-affiliated lenders, albeit in minimal amounts. This aspect of their service portfolio underscores the company’s versatility in financial product offerings.