Company: CPSS
Filing Date: 2025-08-22
Form Type: 424B2
Source: 0001683168-25-006421
Chunk: 15

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-08-22
Form: 424B2
Chunk 15
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 also owns shares of our common stock stands on both sides with respect to the holders of the notes: such a creditor
holds both interests that are senior to, and interests that are subordinate to, the interests of holders of the notes. Also, as officers
and directors, such persons are subject to the fiduciary duties imposed by generally applicable corporation law.

| 13 |

<div align='center'>Risks Related to Our Business</div>

There are substantial risk factors relating to our business generally, in addition to those described above relating specifically to the Notes.

Our business, operating results
and financial condition could be adversely affected by any of the following specific risks. In addition to the risks described below,
we may encounter risks that are not currently known to us or that we currently deem immaterial, which may also impair our business operations.

We require a substantial amount of cash to service our substantial debt.

To service our existing substantial
indebtedness, we require a significant amount of cash. Our ability to generate cash depends on many factors, including our successful
financial and operating performance. Our financial and operational performance depends upon a number of factors, many of which are beyond
our control. These factors include, without limitation:

| · | the economic and competitive conditions in the asset-backed securities market;                      |
| · | the performance of our current and future automobile contracts;                                     |
| · | the performance of our residual interests from our securitizations and warehouse credit facilities; |
| · | any operating difficulties or pricing pressures we may experience;                                  |
| · | our ability to obtain credit enhancement for our securitizations;                                   |
| · | our ability to establish and maintain dealer relationships;                                         |
| · | the passage of laws or regulations that affect us adversely;                                        |
| · | our ability to compete with our competitors; and                                                    |
| · | our ability to acquire and finance automobile contracts.                                            |

Depending upon the outcome
of one or more of these factors, we may not be able to generate sufficient cash flow from operations or obtain sufficient funding to satisfy
all of our obligations. Such factors may result in our being unable to pay our debts timely or as agreed. If we were unable to pay our
debts, we would be required to pursue one or more alternative strategies, such as selling assets, refinancing or restructuring our indebtedness
or selling additional equity capital. These alternative strategies might not be feasible at the time, might prove inadequate, or could
require the prior consent of our