Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 1227

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 1227
---
 415,560  
     416,816  
     390,983  
     –  
     5.18% 

     –  
    $2,993,044  
    $6,671,864  
    $2,609,855  
    $2,280,022  

_________________________

(1)The Final Scheduled Payment Date represents final legal maturity of the securitization trust debt.
Securitization trust debt is expected to become due and to be paid prior to those dates, based on amortization of the finance receivables
pledged to the Trusts. Expected payments, which will depend on the performance of such receivables, as to which there can be no assurance,
are $987.8 million in 2025, $696.4 million in 2026, $470.5 million in 2027, $275.1 million in 2028, $126.6 million in 2029, and $38.0
million in 2030.

(2)Includes repossessed assets that are included in Other Assets on our Consolidated Balance Sheets.

     F-20 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Debt issuance costs of $15.5
million and $14.6 million as of December 31, 2024 and December 31, 2023, respectively, have been excluded from the table above. These
debt issuance costs are presented as a direct deduction to the carrying amount of the Securitization trust debt on our Consolidated Balance
Sheets.

All of the securitization
trust debt was issued in private placement transactions to qualified institutional investors. The debt was issued by our wholly-owned,
bankruptcy remote subsidiaries and is secured by the assets of such subsidiaries, but not by any of our other assets.

The terms of the various securitization
agreements related to the issuance of the securitization trust debt require that certain delinquency and credit loss criteria be met with
respect to the collateral pool, and require that we maintain minimum levels of liquidity and net worth and not exceed maximum leverage
levels. We were in compliance with all such covenants as of December 31, 2024.

We are responsible for the
administration and collection of the contracts. The securit