IRVINE, Calif. — Consumer Portfolio Services announced
earlier this week the closing of its third term securitization of the year. The
transaction also is CPS' sixth senior subordinate securitization since last
year.

In the transaction, officials tabulated that qualified
institutional buyers purchased $147 million of asset-backed notes secured by
automobile receivables purchased by CPS. The sold notes, issued by CPS Auto
Receivables Trust 2012-C, consist of five classes.

Ratings of the notes were provided by Standard & Poor's
and Moody's and were based on the structure of the transaction, the historical
performance of similar receivables and CPS experience as a servicer. 

 Note
Class 		 Amount  Interest
 Rate 		 Average
Life 		 Price  S&P
Rating 		 Moody's
Rating
 A  $111.72
million		  1.82%  1.69 years  99.99660%  AA-  A2
 B  $13.23
million		  2.28%  1.94 years  99.99789%  A  A2
 C  $8.82 million  3.32%  2.69
years		  99.99005%  BBB  Baa1
 D  $7.35 million  5.11%  2.34
years		  99.98666%  BB  Ba1
 E  $5.88
million		  7.50%  1.79 years  99.98923%  B+  B1

    

The company noted the weighted average effective coupon on
the notes is approximately 2.44 percent.

CPS explained the 2012-C transaction has initial credit
enhancement consisting of a cash deposit equal to 1.00 percent of the original
receivable pool balance. The final enhancement level requires accelerated
payment of principal on the notes to reach overcollateralization of 11.00
percent of the then-outstanding receivable pool balance.

The transaction utilizes a pre-funding structure, in which
CPS sold approximately $105.3 million of receivables this month and plans to
sell approximately $41.7 million of additional receivables next month.

"This further sale is intended to provide CPS with long-term
financing for receivables purchased primarily in the month of September,"
company officials emphasized. "The transaction also included $10.3 million of
receivables originally originated by CPS in 2006 and 2007 that were recently
repurchased from a securitization transaction which closed in 2007.

"The transaction was a private offering of securities, not
registered under the Securities Act of 1933, or any state securities law,"
officials went on to say. "All of such securities having been sold, this
announcement of their sale appears as a matter of record only."


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