Consumer Portfolio Services, Inc. Announces Two Securitizations Totaling $228.5 Million of Receivables.

IRVINE, Calif. -- Consumer Portfolio Services, Inc. (Nasdaq:CPSS) announced that it closed two term securitization transactions. On December 20, 2005, a wholly owned special-purpose subsidiary issued $75.5 million of Notes backed by automotive receivables originated by Consumer Portfolio Services, Inc. ("CPS"), and by its subsidiaries, The Finance Company ("TFC") and Mercury Finance Company LLC ("Mercury"). On December 22, 2005, a separate wholly owned special-purpose subsidiary issued $127.6 million of Notes backed by automotive receivables originated by CPS.

CPS Auto Receivables Trust 2005-TFC

In the earlier transaction, qualified institutional buyers purchased $75,525,000 of Notes backed by automotive receivables originated primarily by CPS and TFC (a subsidiary of CPS since its acquisition in May 2003) and, to a lesser extent, by Mercury (a subsidiary of CPS since its acquisition in March 2002). The Notes, issued by CPS Auto Receivables Trust 2005-TFC, consist of one class. The ratings of the Notes were provided by Standard & Poor's and Moody's Investors Services and were based on the structure of the transaction, on CPS's experience as a servicer and on a financial guaranty insurance policy issued by Assured Guaranty Corp.

Amount      Interest   Average     Price     Standard    Moody's
                   Rate      Life                    &         Rating
                                                   Poor's
                                                   Rating
---------------- -------- ----------- ---------- ----------- ---------
$75.525 million   5.33%   1.44 years   99.997%       AAA        Aa1

The 2005-TFC transaction has initial credit enhancement consisting of a cash deposit in the amount of 6% of the original receivable pool balance, plus a subordinated interest and overcollateralization of approximately 13.1%. That enhancement level is to be supplemented by accelerated payment of principal on the Notes to reach a combined level of approximately 23.7% of the then-outstanding receivable pool balance.

CPS Auto Receivables Trust 2005-D

In the most recent transaction, qualified institutional buyers purchased $127,600,000 of Notes backed by automotive receivables originated by CPS. The Notes, issued by CPS Auto Receivables Trust 2005-D, consist of two classes. The ratings of the Notes were provided by Standard & Poor's and Moody's Investors Services and were based on the structure of the transaction, on CPS's experience as a servicer and on a financial guaranty insurance policy issued by Financial Security Assurance Inc.

Note        Amount      Interest   Average    Price  Standard Moody's
 Class                     Rate      Life                &      Rating
                                                       Poor's
                                                       Rating
------- ---------------- -------- ----------- ------- -------- -------
  A-1   $79.000 million    4.93%  1.00 years  99.993%   AAA      Aaa
  A-2   $48.600 million    5.06%  3.10 years  99.982%   AAA      Aaa

The weighted average effective coupon on the Class A-1 and A-2 Notes is approximately 5.02%.

The 2005-D transaction has initial credit enhancement consisting of a cash deposit in the amount of 3% of the original receivable pool balance, plus a subordinated interest of 12%. That enhancement level is to be supplemented by accelerated payment of principal on the Notes to reach a combined level of 20.25% of the then-outstanding receivable pool balance.

The transaction utilized a pre-funding structure, in which CPS sold approximately $86.97 million of receivables today and plans to sell approximately $58.03 million of additional receivables during January 2006. This further sale is intended to provide CPS with financing for receivables originated primarily in the month of December.

Both transactions were private offerings 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.

About Consumer Portfolio Services, Inc.

Consumer Portfolio Services, Inc. is a consumer finance company that specializes in purchasing, selling and servicing retail automobile installment sale contracts originated by automobile dealers located throughout the United States. The Company is currently active in 43 states. Through its purchase of contracts, the Company provides indirect financing to car dealer customers with limited credit histories, low incomes or past credit problems, who are typically unable to obtain financing from traditional sources.