CPSS
Consumer PortfolioยทNASDAQ
--
--(--)
Market Open: --
--
--(--)
Pre-Market: --
CPSS Profile
Consumer Portfolio Services, Inc.
A specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories
3800 Howard Hughes Pkwy
, Las Vegas
, NV 89169
--
Consumer Portfolio Services, Inc., a professional financial company, was incorporated and commenced operations in March 1991. The Company's business is the purchase and service of retail vehicle contracts, which primarily originated from franchised vehicle dealers and, to a lesser extent, selected independent dealers through new and used vehicles, light trucks and passenger vehicles sold in the United States. Through the company's car purchase contracts, the company provides indirect financing to dealers' customers. These people have limited credit history, low income or past credit problems called subprime customers. As an alternative source of dealer financing, the company facilitates sales to customers, none of whom may otherwise be able to obtain financing from traditional channels such as commercial banks, credit unions and captive finance companies participating in major automakers. In addition to purchasing installment purchase contracts directly from dealers, the company also (i) acquired installment purchases with four M & A transaction contracts, (ii) purchased car purchase loans from non-affiliated banks with a small amount, and (iii) purchased vehicle purchase funds loans with a small amount through direct loans to consumers.
