---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-25-007768"
form_type: "8-K"
ticker: "CPSS"
cik: "0000889609"
company_name: "CONSUMER PORTFOLIO SERVICES, INC."
filed_at: "2025-10-24T23:59:59+00:00"
generated_at: "2026-05-17T02:24:14.116785+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# CPS closes $384.6M auto-loan securitization (2025-D); weighted avg coupon 5.72%

## Summary
- Issued five classes of notes secured by $392.46M in automobile receivables; fourth term securitization in 2025.
- Senior Class A notes ($170.91M) rated AAA by S&P and DBRS; average life 0.66 years at 4.46%.
- Class E notes ($53.37M) rated NR/BB with 7.69% interest and average life 4.04 years.
- Initial credit enhancement: 1.00% cash reserve plus 2.00% overcollateralization, stepping to 7.00% of original pool.
- 57th senior subordinate securitization since 2011; 40th consecutive AAA rating on senior class.

## SEC filing metadata
- accession: 0001683168-25-007768
- form_type: 8-K
- ticker: CPSS
- cik: 0000889609
- company_name: CONSUMER PORTFOLIO SERVICES, INC.
- filed_at: 2025-10-24T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889609/000168316825007768/0001683168-25-007768-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889609/000168316825007768/cps_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-25-007768
- JSON: https://secwatch.observer/filing/0001683168-25-007768.json
- Plain text: https://secwatch.observer/filing/0001683168-25-007768.txt

## Key facts
- Debt Financings
  CONSUMER PORTFOLIO SERVICES, INC. incurred senior notes of $384.6 million at 4.46% to 7.69%.
  - Instrument: senior notes
  - Principal: $384.6 million
  - Rate: 4.46% to 7.69%
  - Event: incurrence
  source text: the Trust issued and sold $384.6 million of asset-backed Notes, in five classes (such Notes collectively, the "Notes")
  evidence_url: https://www.sec.gov/Archives/edgar/data/889609/000168316825007768/0001683168-25-007768-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.