IRVINE, Calif. — Consumer Portfolio Services this week announced
the closing of its fourth term securitization of the year.

Officials said the transaction is CPS' seventh senior
subordinate securitization since 2011.

In the transaction, qualified institutional buyers purchased
$160 million of asset-backed notes secured by automobile receivables purchased
by CPS.

The sold notes, issued by CPS Auto Receivables Trust 2012-D,
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's experience as a
servicer.

Note Class Amount  Interest Rate Average Life Price S&P Rating Moody's Rating
 A  $122.4
million		  1.48%  1.67 years  99.98791%  AA-  A2
 B  $14.4 million  1.94%  1.93
years		  99.98668%  A  A2
 C  $9.6 million  2.64%  2.68
years		  99.99637%  BBB+  Baa2
 D  $8.0 million  4.82%  2.32
years		  99.98014%  BB  Ba2
 E  $5.6 million  7.26%  1.88
years		  99.99292%  BB-  B1

                             
The weighted average effective coupon on the notes is
approximately 2.06 percent.

The 2012-D 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 11.50 percent of the
then-outstanding receivable pool balance.

The company explained the transaction utilizes a pre-funding
structure, in which CPS sold approximately $115.0 million of receivables and
plans to sell approximately $45.0 million of additional receivables during
January.

"This further sale is intended to provide CPS with long-term
financing for receivables purchased primarily in the month of December,"
officials said.

The transaction also included $10.7 million of receivables
originally originated by CPS in 2007 that were recently repurchased from a
securitization transaction which closed in 2007.

CPS mentioned the transaction was a private offering of
securities, not registered under the Securities Act of 1933, or any state
securities law.

"All of such securities having been sold, this announcement
of their sale appears as a matter of record only," officials said.


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