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CONSUMER PORTFOLIO SERVICES INC. ANNOUNCES EXPANSION INTO FLORIDA MARKET

 IRVINE, Calif., Nov. 25 ~PRNewswire~ -- Consumer Portfolio Services Inc. (NASDAQ: CPSS) (CPS) announces today that it has entered into an agreement with MotorCar Credit Corp. (MCC) of Lauderdale Lakes, Fla., to market CPS' automobile finance program in the state of Florida. MCC's marketing activities are to be directed by David C. Ellis, president, who has 22 years experience in automobile lending in Florida with Barnett Bank. Charles E. Bradley Jr., president of CPS, stated that CPS is very pleased to be associated with MCC. Furthermore, Bradley added that CPS anticipates that the Florida market will be a major source of automobile loans for the company.
 CPS purchases, remarkets and services retail automobile installment loans originated by a network of automobile dealers. The company is based in California and completed its initial public offering in October 1992. The common stock is traded on the NASDAQ system under the symbol CPSS.
 -0- 11~25~92
 ~CONTACT: Jeff Fritz of Consumer Portfolio Services Inc., 714-753-6816~
 (CPSS)


CO: Consumer Portfolio Services Inc.; MotorCar Credit Corp. ST: California IN: FIN SU:

MS-JB -- LA003 -- 1366 11~25~92 08:01 EST
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Publication:PR Newswire
Date:Nov 25, 1992
Words:185
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