Consumer Portfolio Services – An Overview

Consumer Portfolio Services , commonly abbreviated as CPS, is an American specialty finance company based in Irvine, California. Established in 1991, it specializes in the purchase and servicing of automobile contracts for consumers who no longer qualify for traditional financing.

What Does CPS Offer?

CPS offers an array of financing products to those with less than perfect credit. These include durable goods such as automobiles, boats, motorcycles, recreational vehicles, and other related purchases. Additionally, CPS offers refinancing services on these items for customers looking to take advantage of better terms and better rates.

Benefits of Working With CPS

Those who choose to work with CPS can benefit from quicker loan approvals than at most banks and other lenders; this allows for more time to shop for the right vehicle or product without having to wait long periods of time for approval. Customers may also be able to qualify for attractive financing terms, including lower interest rates and longer payment schedules. In addition, CPS’s flexible programs can help customers save money and improve their credit over time.

The Journey of a Typical Loan Process

The loan process typically begins with an application. Approval often occurs within 24 hours, after which the customer is given a loan number. Once the loan is approved, a CPS representative will contact the customer to discuss the terms of the loan. Then, once both parties have agreed on the terms, the customer can go shopping for the desired product. Finally, the customer signs the loan documents and completes the application process.

Why Not Regular Banks?

Many individuals may not qualify for traditional car loans offered by banks and other financial institutions due to poor credit scores or a lack of collateral. This is where CPS comes in; they are focused on providing financing options to individuals with challenging credit histories, giving them access to the same durable goods that other individuals would otherwise be denied.

What Are The Requirements For A CPS Loan?

In order to be eligible for a CPS loan, applicants must have a valid driver’s license, proof of verifiable income, and some form of acceptable collateral. Some locations may also require a minimum down payment and/or fees. Individuals should check with CPS to learn more about their specific requirements.

Conclusion

Consumer Portfolio Services provide consumer financing opportunities to individuals with less than perfect credit who may not qualify for traditional financing. With its flexible payment terms and attractive rates, it is an attractive option for those looking to purchase durable goods. CPS also facilitates the timely approval process, allowing customers to quickly get the items they want without lengthy delays.

Consumer Portfolio Services (CPS) is an industry-leading financial services company dedicated to providing asset-backed lending solutions for consumers. Consumers benefit from CPS wide array of loan types, including unsecured personal loans, commercial low-cost financing, and agricultural financing. CPS employs a team of experienced professionals to meet customer’s financial needs. CPS’s financial solutions are designed to protect consumers by providing access to competitive loan rates and longer loan terms. Additionally, consumers can enjoy the safety and soundness of CPS’s AA+ rated loan services, 24-hour customer service, and direct access to a significant amount of lenders. Overall, Consumer Portfolio Services is an excellent and reliable choice for consumers looking for long term financial solutions.