Company: CPSS
Filing Date: 2025-08-22
Form Type: 424B2
Source: 0001683168-25-006421
Chunk: 12

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-08-22
Form: 424B2
Chunk 12
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to do so. If we do not generate sufficient operating profits, our ability to make required payments on our senior debt, as well as on
the debt represented by the notes described in this prospectus, may be impaired.

If we incur substantially
more indebtedness that is senior to your notes, our ability to pay the notes may be impaired.

Subject to limitations contained
in our credit facilities and in the indenture, we may incur substantial additional indebtedness in the future. The indenture for the notes
does not prohibit us from incurring additional indebtedness. Any such borrowings would be senior to the notes. If we borrow more money,
the risks to noteholders described in this prospectus could intensify.

Our management has broad discretion over the use of proceeds from the offering.

We expect to use the proceeds
from the offering to fund the purchase of automobile contracts and for other general corporate purposes, which may include the payment
of general and administrative expenses. Because no specific allocation of the proceeds is required in the indenture, our management will
have broad discretion in determining how the proceeds of the offering will be used. See “Use of Proceeds.”

Because we are subject to many restrictions in our existing credit facilities, our ability to pay the notes may be impaired.

The terms of our existing
credit facilities and our securitization trust debt impose significant operating and financial restrictions on us and our subsidiaries
and require us to meet certain financial tests. The indenture for the notes also imposes certain limited restrictions on our ability and
that of our subsidiaries to take certain actions. Such terms and restrictions may be amended or supplemented from time to time without
requiring any notice to or consent of the holders of the notes or the trustee. These restrictions may have an adverse impact on our business
activities, results of operations and financial condition. These restrictions may also significantly limit or prohibit us from engaging
in certain transactions, including the following:

| · | incurring or guaranteeing additional indebtedness;                                                                                                |
| · | making capital expenditures in excess of agreed upon amounts;                                                                                     |
| · | paying dividends or other distributions to our stockholders or redeeming, repurchasing or retiring our capital stock or subordinated obligations; |
| · | making investments;                                                                                                                               |
| · | creating or permitting liens on our assets or the assets of our subsidiaries;                                                                     |
| · | issuing or selling capital stock of our subsidiaries;                                                                                             |
| · | transferring or selling our assets;                                                                                                               |
| · |