# CONSUMER PORTFOLIO SERVICES, INC. (CPSS) — divestiture [announced]
Source: SEC API (secapi.ai) · situation sit_deb674942d9996578323 · retrieved 2026-08-11T16:17:14.827Z

## Overview
Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems or limited credit histories, purchasing retail installment sales contracts primarily from franchised automobile dealerships and funding these purchases primarily through securitization markets.

On July 22, 2026, Consumer Portfolio Services, Inc. (CPS) and its wholly owned subsidiary CPS Receivables Five LLC completed a securitization transaction in which the subsidiary purchased approximately $734.51 million of subprime automotive receivables from CPS and sold them to CPS Auto Receivables Trust 2026-C. The Trust then issued and sold $716.88 million of asset-backed notes in five classes with interest rates ranging from 4.52% (Class A) to 7.65% (Class E). The transaction included initial credit enhancement consisting of a 1.00% cash reserve and 2.40% overcollateralization. This was CPS's 60th senior subordinate securitization since 2011 and the 43rd consecutive securitization to receive triple-A ratings on the senior class from at least two rating agencies.

## Terms
- Counterparty: CPS Auto Receivables Trust 2026-C · Deal value: $716.9M

## Key dates
- Announced 2026-07-24

## Timeline
- 2026-07-24 · 8-K (0001683168-26-005764): 8-K - CONSUMER PORTFOLIO SERVICES, INC. — *Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems or limited credit histories, purchasing retail installment sales contracts primarily from franchised automobile dealerships and funding these purchases primarily through securitization markets.* On July 22, 2026, Consumer Portfolio Services, Inc. (CPS) and its wholly owned subsidiary CPS Receivables Five LLC completed a securitization transaction in which the subsidiary purchased approximately $734.51 million of subprime automotive receivables from CPS and sold them to CPS Auto Receivables Trust 2026-C. The Trust then issued and sold $716.88 million of asset-backed notes in five classes with interest rates ranging from 4.52% (Class A) to 7.65% (Class E). The transaction included initial credit enhancement consisting of a 1.00% cash reserve and 2.40% overcollateralization. This was CPS's 60th senior subordinate securitization since 2011 and the 43rd consecutive securitization to receive triple-A ratings on the senior class from at least two rating agencies.
  https://www.sec.gov/Archives/edgar/data/889609/0001683168-26-005764.txt

## Citations
- 0001683168-26-005764 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000168316826005764