Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 933

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 5
Chunk 933
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 securities.

Contractual Obligations

The following table summarizes
our material contractual obligations as of December 31, 2024 (dollars in thousands):

    Payment Due by Period (1) 

    Less than  
    2 to 3  
    4 to 5  
    More than 

    Total  
    1 Year  
    Years  
    Years  
    5 Years 
  
    Long Term Debt (2) 
    $26,489  
    $8,445  
    $5,284  
    $6,911  
    $5,849 
  
    Operating and Finance Leases 
    $22,544  
    $4,857  
    $4,804  
    $4,792  
    $8,091 

(1)Securitization trust debt, in the aggregate amount of $2,594.4 million as of December 31, 2024, is omitted
from this table because it becomes due as and when the related receivables balance is reduced by payments and charge-offs. 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)Long-term debt represents subordinated renewable notes.

 46 

We anticipate
repaying debt due in 2025 with a combination of cash flows from operations and the potential issuance of new debt.

Warehouse Credit Facilities

The terms on which credit
has been available to us for purchase of automobile contracts have varied in recent years, as shown in the following summary of our warehouse
credit facilities:

Facility Established in
May 2012. On May 11, 2012, we entered into a $100 million one-year warehouse credit line with Citibank, N.A. The facility is structured
to allow us to fund a portion of the purchase price of automobile contracts by borrowing from a credit facility to our consolidated subsidiary
Page Eight Funding, LLC. On July 15, 2022, we renewed our two-year revolving credit agreement with Citibank, N.A., and doubled the capacity
from $