Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 7

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 7
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, and the loan amount, loan-to-value ratio, down
payment, and payment-to-income ratio requirements tend to be more restrictive compared to our other programs.

Standard
– This program accommodates an applicant who may have significant past non-performing credit, but who has also exhibited some performing
credit in their history. The contract interest rate and dealer acquisition fees are comparable to the First Time Buyer and Mercury/Delta
programs, but the loan amount and loan-to-value ratio requirements are somewhat less restrictive.

Alpha –
This program accommodates applicants who may have a discharged bankruptcy, but who have also exhibited performing credit. In addition,
the program allows for homeowners who may have had other significant non-performing credit in the past. The contract interest rate and
dealer acquisition fees are lower than the Standard program, down payment and payment-to-income ratio requirements are somewhat less restrictive.

Alpha Plus –
This program accommodates applicants with past non-performing credit, but with a stronger history of recent performing credit, such as
auto or mortgage related credit, and higher incomes than the Alpha program. Contract interest rates and dealer acquisition fees are lower
than the Alpha program.

Super Alpha
– This program accommodates applicants with past non-performing credit, but with a somewhat stronger history of recent performing
credit, including auto or mortgage related credit, and higher incomes than the Alpha Plus program. Contract interest rates and dealer
acquisition fees are lower, and the maximum loan amount is somewhat higher, than the Alpha Plus program.

Preferred
- This program accommodates applicants with past non-performing credit, but who demonstrate a somewhat stronger history of recent performing
credit than the Super Alpha program. Contract interest rates and dealer acquisition fees are lower, and the maximum loan amount is somewhat
higher than the Super Alpha program.

Meta - This
program accommodates applicants with past non-performing credit, but who demonstrate a stronger history of recent performing credit than
the Preferred program. Contract interest rates and dealer acquisition fees are lower, and the maximum loan amount is somewhat higher than
the Preferred program.

Our upper credit tier products,
which are our Meta, Preferred, Super Alpha, Alpha Plus and Alpha programs, accounted for approximately 89% of our new contract acquisitions
for our own portfolio in 2024, 83% in 2023, and 80% in 2022, measured by aggregate amount financed.

The following table identifies
the credit program, sorted from highest to lowest credit quality, under which we originated automobile contracts during the years ended
December