Company: CPSS
Filing Date: 2025-05-23
Form Type: 424B2
Source: 0001683168-25-003971
Chunk: 48

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-23
Form: 424B2
Chunk 48
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of the holder, and would apply even in the absence of our contractual prohibition on repurchases, noted above.

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Modifications to Repurchase Policy. We may modify the policies on repurchase in the future. No modification will affect the right of repurchase
applicable to any note outstanding at the time of any such modification.

Transfers.The notes
are not negotiable debt instruments and, subject to certain exceptions, will be issued only in book-entry form. The purchase confirmation
issued upon our acceptance of a subscription is not a certificated security or negotiable instrument, and no rights of record ownership
can be transferred without our prior written consent. Ownership of notes may be transferred on the note register only as follows:

| · | The holder must deliver us written notice requesting a transfer signed by the holder(s) or such holder’s duly authorized representative on a form to be supplied by us. |
| · | We must provide our written consent to the proposed transfer.                                                                                                           |
| · | We may require a legal opinion from counsel satisfactory to us that the proposed transfer will not violate any applicable securities laws.                              |
| · | We may require a signature guarantee in connection with such transfer.                                                                                                  |

Upon transfer of a note,
we will provide the new holder of the note with a purchase confirmation that will evidence the transfer of the account on our records.
We may charge a reasonable service charge in connection with the transfer of any note.

Quarterly Statements.We will provide holders of the notes with quarterly statements, which will indicate, among other things, the account balance at the
end of the quarter, interest credited, redemptions or repurchases made, if any, and the interest rate paid during the quarter. These statements
will be mailed not later than the 10th business day following the end of each calendar quarter. We may charge such holders a reasonable
fee to cover the charges incurred in providing such information.

Subordination.The
indebtedness evidenced by the notes, and any interest thereon, is subordinated in right of payment to all of our senior debt, including
indebtedness held by our subsidiaries that are special purpose entities. “Senior debt” means all of our secured, unsecured,
senior or subordinate indebtedness, as well as other financial obligations of the company, whether outstanding on the date of this prospectus
or incurred after the date of this prospectus, whether such indebtedness is or is not specifically designated as being senior debt in
its defining instruments