Consumer Portfolio Services, Inc. provides indirect automobile financing by purchasing and servicing retail installment sales contracts originated by franchised automobile dealers and select independent dealers. The company facilitates the purchase of new and used vehicles for consumers who may not qualify for traditional financing through commercial banks or captive finance companies.
Price Range: Variable based on loan amount, interest rates, and individual credit risk profiles.
Pain Points: Limited access to credit, past credit problems, low income barriers, and difficulty obtaining financing through traditional commercial banks or credit unions.
Solutions: Access to automotive credit, flexible financing options, and the ability to purchase vehicles for customers with non-traditional credit histories.
Target Users: Vehicle purchasers with limited credit histories, past credit problems, or low incomes who are buying late-model used or new vehicles.
CPS purchases retail installment sales contracts from dealerships and maintains the lifecycle management of these accounts, including payment processing, statement issuance, and account support through their resolution centers.
Price Range: N/A
Pain Points: Administrative burden of loan management for dealers and the need for ongoing support for consumers holding auto loans.
Solutions: Automated payment processing, payoff quotes, title management, and account resolution services.
