Company: CPSS
Filing Date: 2025-05-23
Form Type: 424B2
Source: 0001683168-25-003971
Chunk: 19

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-23
Form: 424B2
Chunk 19
---
 31, 2025, we had
approximately $3,300 million of debt outstanding. Such debt consisted primarily of $2,743.3 million of securitization trust debt, and
also included $365.7 million of warehouse lines of credit, $163.4 million of residual interest financing debt and $27.5 million in subordinated
renewable notes. Our ability to make payments of principal or interest on, or to refinance, our indebtedness will depend on our future
operating performance, and our ability to enter into additional credit facilities and securitization transactions as well as other debt
financings, which, to a certain extent, are subject to economic, financial, competitive, regulatory, capital markets and other factors
beyond our control.

If we are unable to generate
sufficient cash flows in the future to service our debt, we may be required to refinance all or a portion of our existing debt or to obtain
additional financing. There can be no assurance that any refinancing will be possible or that any additional financing could be obtained
on acceptable terms. The inability to service or refinance our existing debt or to obtain additional financing would have a material adverse
effect on our financial position, liquidity and results of operations.

The degree to which we are
leveraged creates risks, including:

| · | we may be unable to satisfy our obligations under our outstanding indebtedness;                                                                                                                         |
| · | we may find it more difficult to fund future credit enhancement requirements, operating costs, tax payments, capital expenditures or general corporate expenditures;                                    |
| · | we may have to dedicate a substantial portion of our cash resources to payments on our outstanding indebtedness, thereby reducing the funds available for operations and future business opportunities; |
| · | increasing our vulnerability to adverse general economic, industry and capital markets conditions;                                                                                                      |
| · | limiting our flexibility in planning for, or reacting to, changes in our business and the industry in which we operate;                                                                                 |
| · | placing us at a competitive disadvantage compared to our competitors that have less debt; and                                                                                                           |
| · | limiting our ability to borrow additional funds.                                                                                                                                                        |

Although we believe we are
able to service and repay such debt, there is no assurance that we will be able to do so. If we do not generate sufficient operating profits,
our ability to make required payments on our debt would be impaired. Failure to pay our indebtedness when due would give rise to various
remed