Company: CPSS
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683168-25-005901
Chunk: 51

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 51
---
inquency aging categories shown in the tables reflect
the effect of extensions.

(3) Amount in repossession represents financed
vehicles that have been repossessed but not yet liquidated.

(4) Amount in repossession and accounts past
due more than 90 days are on non-accrual.

 43 

Net Charge-Off Experience
(1)

Total Managed Portfolio
(Excludes Third Party Portfolio)

    Finance Receivables Portfolio 

    June 30,  
    June 30,  
    December 31, 

    2025  
    2024  
    2024 

    (Dollars in thousands) 
  
    Average servicing portfolio outstanding 
    $3,682,959  
    $3,122,278  
    $3,209,988 
  
    Annualized net charge-offs as a percentage of average servicing portfolio (2) 
    $7.45%  
    $7.26%  
    $7.62% 

_________________________

(1) All amounts and percentages are based on
the principal amount scheduled to be paid on each automobile contract. 

(2) Net charge-offs include the remaining principal
balance, after the application of the net proceeds from the liquidation of the vehicle (excluding accrued and unpaid interest) and amounts
collected subsequent to the date of charge-off, including some recoveries which have been classified as other income in the accompanying
interim consolidated financial statements. June 30, 2025, and June 30, 2024, percentages represent three months ended June 30, 2025, and
June 30, 2024, annualized. December 31, 2024, represents 12 months ended December 31, 2024.

Extensions

In
certain circumstances we will grant obligors one-month payment extensions to assist them with temporary cash flow problems. In general,
we are bound by our securitization agreements to refrain from agreeing to more than two such extensions in any 12-month period and to
more than eight over the life of the contract. The only modification of terms is to advance the obligor’s next due date by one month
and extend the maturity date of the receivable by one month. In some cases, a two-month extension may be granted. There are no other concessions
such as a reduction in interest rate, forgiveness of principal or of accrued interest.

The