19500 Jamboree Rd.
Irvine, CA, 92612 United States
(949) 753-6800
http://www.consumerportfolio.com
Consumer Portfolio Services (CPS) buys, sells, and services auto loans made to consumers who probably don't have portfolios. The company finances vehicles for subprime borrowers who can't get traditional financing due to poor or limited credit; these loans typically carry a higher interest rate than prime loans. CPS purchases contracts from both new car and independent used car dealers in some 45 states; the company then securitizes (bundles and sells) them on the secondary market. Its total managed portfolio comprises some $795 million in contracts. The bulk of the contracts CPS acquires finance used vehicles. The company has servicing operations in California, Florida, Illinois, and Virginia.