Company: CPSS
Filing Date: 2025-05-23
Form Type: 424B2
Source: 0001683168-25-003971
Chunk: 10

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-23
Form: 424B2
Chunk 10
---
. We may also incur substantial additional indebtedness in the future
that would also rank senior to your notes. Because of the subordination provisions of the notes, in the event of our bankruptcy, liquidation
or dissolution, our assets would be available to make payments to you under the notes only after all payments had been made on all of
our secured and unsecured indebtedness and other obligations that are senior to the notes. Sufficient assets may not remain after all
such senior payments have been made to make any payments to you under the notes, including payments of interest when due or principal
upon maturity.

Because there will be no trading market for the notes and because transfers of the notes require our consent, it may be difficult to sell your notes.

Your ability to liquidate
your investment is limited because of transfer restrictions, the lack of a trading market and the limitation on repurchase requests prior
to maturity. Your notes may not be transferred without our prior written consent. In addition, there will be no trading market for the
notes. Due to the restrictions on transfer of the notes and the lack of a market for the sale of the notes, even if we permitted a transfer,
you might be unable to sell, pledge or otherwise liquidate your investment. In any event, the total principal amount of notes that we
would be required to repurchase in any calendar quarter, for any reason, will be limited to the greater of $1 million or 2% of the aggregate
principal amount of all notes outstanding at the end of the previous quarter. See “Description of the Notes.”

| 10 |

Because the notes will have no sinking fund, collateral security, insurance or guarantee, you may lose all or a part of your investment in the notes if we do not have enough cash to pay the notes.

There is no sinking fund,
collateral security, insurance or guarantee of our obligation to make payments on the notes. The notes are not secured by any of our assets.
We will not contribute funds to a separate account, commonly known as a sinking fund, to make interest or principal payments on the notes.
The notes are not certificates of deposit or similar obligations of, and are not guaranteed or insured by, any depository institution,
the Federal Deposit Insurance Corporation, the Securities Investor Protection Corporation, or any other governmental or private fund or
entity. Therefore, if you invest in the notes, you will have to rely only on our cash flow from operations and other sources of funds
for repayment of principal at maturity or redemption and