Consumer Portfolio Services Inc

Consumer Portfolio Services Inc operates as a specialty finance company in the United States It is involved in the purchase and service of retail automobile contracts originated by franchised automobile dealers and select independent dealers in the sale of new and used automobiles light trucks and passenger vans The company through its automobile contract purchases offers indirect financing to the customers of dealers with limited credit histories or past credit problems It serves as an alternative source of financing for dealers facilitating sales to customers who are not able to obtain financing from commercial banks credit unions and the captive finance companies The company also acquires installment purchase contracts in four merger and acquisition transactions purchases immaterial amounts of vehicle purchase money loans from nonaffiliated lenders and offers financing directly to subprime consumers to facilitate their purchase of a new or used automobile light truck or passenger van It services its automobile contracts through its branches in California Nevada Virginia Florida and Illinois The company was founded in 1991 and is based in Las Vegas Nevada