Consumer Portfolio Services, Inc. operates as a specialty finance company in the United States. They sell and service retail installment sales contracts originated predominantly by franchised dealers for new and late model used cars. Consumer Portfolio Services allows car dealers to sell more cars because the subprime market is growing. Selling more cars is possible because the company has many different lead-generating programs. Instead of hoping the right person arrives, the dealership can contact potential car buyers directly and offer financing options. A postcard sent to a potential buyer is the first contact. Quick approvals are possible because of the online application and automated decision engine.
Consumer Portfolio Services has been working with dealers all across the United States since 1991. Careful management of the loan portfolio is essential for the trust that stockholders have. Dealers trust CPS to provide the best subprime auto loan packages to customers. While Car sales will fluctuate with the economy because most people need financing to complete the purchase. High unemployment rates cause borrowers to fall into subprime lending categories. CPS offers these borrowers opportunities to improve their credit scores by repaying an auto loan.
Consumer Portfolio Services buys and sells auto loans and provides indirect financing for people with less than perfect credit. They are one of the largest independent consumer finance companies with over $1 billion of automobile contracts. If have have less than perfect credit, the you need Consumer Portfolio Services
- Experian: More subprime buyers getting auto loans(sfgate.com)
- Changing view of nonprime scores(bankrate.com)
- Subprime auto loans rise in third quarter(lexingtonlaw.com)