<SEC-DOCUMENT>0001019687-15-003343.txt : 20150902
<SEC-HEADER>0001019687-15-003343.hdr.sgml : 20150902
<ACCEPTANCE-DATETIME>20150902171539
ACCESSION NUMBER:		0001019687-15-003343
CONFORMED SUBMISSION TYPE:	ABS-15G
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20150831
<DEPOSITOR-CIK>0001518859
ITEM INFORMATION:		<ITEMS>2.01
FILED AS OF DATE:		20150902
DATE AS OF CHANGE:		20150902
<ABS-RULE>RULE-15GA2
<REGISTERED-ENTITY>Y
<ABS-ASSET-CLASS>Residential mortgages - Prime
<ISSUING-ENTITY-CIK>0001652269
<ISSUING-ENTITY-NAME>CPS Auto Receivables Trust 2015-C
<DEPOSITOR-FILE-NUMBER>021-158975

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CONSUMER PORTFOLIO SERVICES INC
		CENTRAL INDEX KEY:			0000889609
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		IRS NUMBER:				330459135
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		ABS-15G
		SEC ACT:		
		SEC FILE NUMBER:	025-00641
		FILM NUMBER:		151090235

	BUSINESS ADDRESS:	
		STREET 1:		19500 JAMBOREE ROAD
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92612
		BUSINESS PHONE:		9497536800

	MAIL ADDRESS:	
		STREET 1:		19500 JAMBOREE ROAD
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92612
</SEC-HEADER>
<DOCUMENT>
<TYPE>ABS-15G
<SEQUENCE>1
<FILENAME>cpsreceivables_abs15g-090115.htm
<DESCRIPTION>FORM ABS-15G
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM ABS-15G </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ASSET-BACKED SECURITIZER REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PURSUANT TO SECTION 15G OF THE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Check the appropriate box to indicate the filing
obligation to which this form is intended to satisfy:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period ________________ to ________________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40pt">Date of Report (Date of earliest event reported) __________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40pt">Commission File Number of securitizer: __________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40pt">Central Index Key Number of securitizer: __________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the securitizer has no activity to
report for the initial period pursuant to Rule 15Ga-1(c)(1) <FONT STYLE="font-family: Wingdings">&#111;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><BR>
Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i)
<FONT STYLE="font-family: Wingdings">&#111;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the securitizer has no activity to
report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(ii) <FONT STYLE="font-family: Wingdings">&#111;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font: 10pt Wingdings">x</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Central Index Key Number of depositor: <U>0001518859</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><U>CPS Auto Receivables Trust 2015-C </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(Exact name of issuing entity as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Central Index Key Number of issuing entity
(if applicable): <U>0001652269</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Central Index Key Number of underwriter (if
applicable): Not applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Mark Creatura (949) 753-6800</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Name and telephone number, including area code,
of the person</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">to contact in connection with the filing</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PART II: FINDINGS AND CONCLUSIONS OF THIRD-PARTY
DUE DILIGENCE REPORTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 2.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Findings and Conclusions of a Third Party Due Diligence
Report Obtained by the Issuer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The disclosures required by Rule 15Ga-2 (17
CFR 240.15Ga-2) are attached as Exhibit 99.1 to this Form ABS-15G.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif">CPS RECEIVABLES FIVE LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">(Depositor)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">By: <U>&nbsp;&nbsp;/s/ Mark Creatura</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Name: Mark Creatura</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title: Secretary</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: September 1, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CPS RECEIVABLES FIVE LLC<FONT STYLE="font-size: 10pt">
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Exhibit Index to Current Report on Form ABS-15G</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Dated September 1, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Exhibit</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Number</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(99.1)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Report of Independent Accountants on Applying Agreed-Upon Procedures, dated August 28, 2015</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex9901.htm
<DESCRIPTION>ACCOUNTANT'S REPORT ON APPYING AGREED-UPON PROCEDURES
<TEXT>
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<P STYLE="margin: 0">Exhibit 99.1</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><IMG SRC="ex9901_logo1.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 70%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 49%; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"><b>KPMG LLP</b></font></td>
    <TD STYLE="width: 27%; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Telephone</font></td>
    <TD STYLE="width: 24%; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;+1 949 885 5400</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Suite 700</font></td>
    <TD STYLE="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;FAX</font></td>
    <TD STYLE="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;+1 949 885 5410</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">20 Pacifica</font></td>
    <TD STYLE="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;Internet</font></td>
    <TD STYLE="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;www.us.kpmg.com</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Irvine, CA 92618-3391</font></td>
    <TD STYLE="text-align: left">&nbsp;</td>
    <TD STYLE="text-align: left">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Independent Accountants&rsquo;
Report</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">On Applying Agreed-Upon Procedures</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Consumer Portfolio Services, Inc. (the &ldquo;Company&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Citigroup Global Markets Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">(together, the &ldquo;Specified Parties&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CPS Auto Receivables Trust 2015-C (the
&ldquo;Notes&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">We have performed the procedures enumerated below,
which were agreed to by the Specified Parties, solely to assist the Specified Parties with certain information pertaining to a
pool of automobile retail installment sale contracts which we were informed are intended to be included as collateral in the offering
of the Notes. The Company is responsible for the information set forth in the Preliminary Detailed Receivables List. This agreed-upon
procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified
Public Accountants. The sufficiency of these procedures is solely responsibility of the Specified Parties. Consequently, we make
no representation regarding the sufficiency of the procedures described below, either for the purpose for which this report has
been requested or for any other purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Unless otherwise indicated, the following definitions
have been adopted in presenting our procedures and findings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The term &ldquo;compared&rdquo; means compared to the information shown and found it to be in agreement,
unless otherwise noted. Such compared information was deemed to be in agreement if differences were attributable to rounding.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 153.35pt; text-align: left"><FONT STYLE="font-size: 8pt">KPMG
LLP is a Delaware limited liability partnership,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 153.35pt; text-align: left"><FONT STYLE="font-size: 8pt">the
U.S. member firm of KPMG International Cooperative,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 153.35pt; text-align: left"><FONT STYLE="font-size: 8pt">(&ldquo;KPMG
International&rdquo;) a Swiss entity.</FONT></P>



<P STYLE="margin-top: 0; margin-bottom: 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;<IMG SRC="logo2.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">CPS Auto Receivables Trust 2015-C</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">August 28, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page <FONT STYLE="font-family: Times New Roman, Times, Serif">2</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The term &ldquo;recomputed&rdquo; means recalculated and compared the result to the information
shown and found it to be in agreement, unless otherwise noted. Such recomputed information was deemed to be in agreement if differences
were attributable to rounding.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The term &ldquo;Initial Receivables&rdquo; means automobile retail installment sale contracts secured
by new and used automobiles, light trucks, vans, and minivans purchased by the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The phrase &ldquo;Preliminary Detailed Receivables List&rdquo; means an electronic data file, prepared
by the Company, detailing 8,884 Initial Receivables and their related attributes as of the close of business on August 14, 2015.
We received this electronic data file from the Company on August 17, 2015.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The term &ldquo;Sample&rdquo; means 150 Initial Receivables that we randomly selected from the
Preliminary Detailed Receivables List, as instructed by the Specified Parties. The Sample is attached hereto as Exhibit A.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The phrase &ldquo;Installment Sale Contract&rdquo; means a scanned copy of the legal document or
documents, executed by the Obligor and maintained and supplied to us by the Company, that includes information such as the Obligor&rsquo;s
Name, Original Amount Financed, Original Term, Scheduled Monthly Payment Amount, Annual Percentage Rate (&ldquo;APR&rdquo;), Type
of Vehicle Financed (&ldquo;New&rdquo; or &ldquo;Used&rdquo;), Vehicle Make and Vehicle Model. We make no representation regarding
the accuracy of the scanning process or the execution of the Installment Sale Contract by the Obligor.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The term &ldquo;Obligor&rdquo; means the borrower(s) stated on the Installment Sale Contract.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The phrase &ldquo;Receivable File&rdquo; means any file containing some or all of the following
documents: Installment Sale Contract, Addendum to the Installment Sale Contract, Retail Installment Sale Contract Simple Interest
Finance Change letter, Certificate of Title, Application for Title or Dealer Guarantee of Title Delivery, Application for Registration,
Dealer&rsquo;s Report of Sale, Agreement to Provide Insurance Form, Insurance Verification Form, Insurance Verification system
screen shot, and Credit Application. The Receivable File, maintained and furnished to us by the Company, was represented to be
a copy of the original Receivable File scanned by the Company into its computer system. The scanned copy was either printed from
the Company&rsquo;s computer system or viewed on one of the Company&rsquo;s computer terminals. We make no representation regarding
the accuracy of the scanning process.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: left"><B>I.</B></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><B>THE SAMPLE</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 20pt; text-align: left">At the request of the Specified Parties, we performed
the following procedures with respect to the Sample. For each Initial Receivable in the Sample, we performed the specific procedures
listed using the respective Receivable File. The Specified Parties indicated that the absence of any of the noted documents or
the inability to agree the indicated information from the Preliminary Detailed Receivables List to the Receivable File for each
of the attributes identified constituted an exception.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">1.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">We compared the Obligor&rsquo;s Name per the Preliminary Detailed Receivables List
to the Obligor&rsquo;s Name appearing on the Installment Sale Contract.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;<IMG SRC="logo2.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">CPS Auto Receivables Trust 2015-C</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">August 28, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page <FONT STYLE="font-family: Times New Roman, Times, Serif">3</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">2.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">We entered the Receivable Number from the Preliminary Detailed Receivables List into
one of the Company&rsquo;s computer terminals and compared the Receivable Number to the corresponding Receivable File.</TD>
</TR></TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">3.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">We compared the Contract Date and Original Term per the Preliminary Detailed Receivables
List to the corresponding information in the Installment Sale Contract or the Addendum to the Installment Sale Contract.</TD>
</TR></TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">4.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">We compared the Original Amount Financed per the Preliminary Detailed Receivables
List to the corresponding information appearing on the Installment Sale Contract or the Addendum to the Installment Sale Contract.</TD>
</TR></TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">5.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">We compared the Scheduled Monthly Payment Amount per the Preliminary Detailed Receivables
List to the corresponding information on the Installment Sale Contract, the Addendum to the Installment Sale Contract, or the
Retail Installment Sale Contract Simple Interest Finance Change letter (as applicable). For purposes of this procedure, the Specified
Parties instructed us to deem the Scheduled Monthly Payment Amount to be in agreement if the difference was not greater than $0.01.</TD>
</TR></TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">6.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">We compared the APR per the Preliminary Detailed Receivables List to the corresponding
information on the Installment Sale Contract, the Addendum to the Installment Sale Contract, or the Retail Installment Sale Contract
Simple Interest Finance Change letter (as applicable). For purposes of this procedure, the Specified Parties instructed us to
deem the APR to be in agreement if the difference was not greater than 0.01%.</TD>
</TR></TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">7.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">We compared the Type of Vehicle Financed (&ldquo;New&rdquo; or &ldquo;Used&rdquo;)
per the Preliminary Detailed Receivables List to the corresponding information on the Installment Sale Contract or the Addendum
to the Installment Sale Contract. As instructed by the Company, an entry of &ldquo;C&rdquo; in the Vehicle Type field (VLNEWU)
in the Preliminary Detailed Receivables List represented &ldquo;Used.&rdquo;</TD>
</TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">8.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">We compared the Vehicle Make per the Preliminary Detailed Receivables List to the
corresponding information on the Installment Sale Contract or the Addendum to the Installment Sale Contract.</TD>
</TR></TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">9.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">We compared the Vehicle Model per the Preliminary Detailed Receivables List to the
corresponding information on the Installment Sale Contract or Addendum to the Installment Sale Contract.</TD>
</TR></TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">10.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">We observed the presence of an original or photocopy of a Certificate of Title, Application
for Title or Dealer Guarantee of Title Delivery, Application for Registration or Dealer&rsquo;s Report of Sale (each, a &ldquo;Title
Document&rdquo;) in the Receivable File and noted that the Company&rsquo;s name (&ldquo;CPS, Inc.&rdquo; or &ldquo;Consumer Portfolio
Services&rdquo;) appeared in the security interest section of the Title Document. We make no representation regarding the validity
of the evidence of title.</TD>
</TR></TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">11.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">We observed the presence of an original or a photocopy of an Agreement to Provide
Insurance Form or an Insurance Verification Form in the Receivable File. In the event an Agreement to Provide Insurance Form or
an Insurance Verification Form was not found, the Specified Parties instructed us to view a screenshot from the Company&rsquo;s
Insurance Verification system. We noted an insurance company name or a policy number on the Agreement to Provide Insurance Form,
Insurance Verification Form, or screenshot from the Company&rsquo;s Insurance Verification system. We make no representation regarding
the validity or enforceability of the Agreement to Provide Insurance or Insurance Verification Form or the authenticity of the
screenshots from the Company&rsquo;s Insurance Verification system.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">&nbsp;</DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><IMG SRC="logo2.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">CPS Auto Receivables Trust 2015-C</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">August 28, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 4</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">12.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">We observed the presence of an original or photocopy of a signed Credit Application
in the Receivable File. We make no representation regarding the completeness of the Credit Application or the authenticity of
the signature(s) on the Credit Application.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">The information regarding the Sample was found
to be in agreement with the respective information in the Receivable File, except as noted in Exhibit B.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">We were not engaged to, and did not, conduct an
audit, examination or review, the objective of which would be the expression of an opinion or conclusion on the Preliminary Detailed
Receivables List. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters
might have come to our attention that would have been reported to the Specified Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">The procedures performed were applied based on
the information indicated in the Preliminary Detailed Receivables List, or provided by the Company, without verification or evaluation
of such information by us; therefore, we express no opinion or any other form of assurance regarding (i) the physical existence
of the Initial Receivables in the Sample or as to the conformity of their respective characteristics with those assumed for purposes
of the comparisons and recomputations described herein, (ii) the reliability or accuracy of the Preliminary Detailed Receivable
List, the Receivable Files, or data and documents furnished to us by the Company which were used in our procedures, or (iii) matters
of legal interpretation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">The procedures performed were not intended to
address, nor did they address:&nbsp; (i) the conformity of the origination of the Initial Receivables in the Sample to stated underwriting
or credit extension guidelines, standards, criteria or other requirements, (ii) the value of collateral securing any such Initial
Receivables in the Sample being securitized, (iii) the compliance of the originator of the Initial Receivables in the Sample with
federal, state, and local laws and regulations, or (iv) any other factor or characteristic of the Initial Receivables in the Sample
that would be material to the likelihood that the issuer of the asset-backed security will pay interest and principal in accordance
with applicable terms and conditions.&nbsp;The procedures performed were not intended to satisfy any criteria for due diligence
published by a nationally recognized statistical rating organization (&ldquo;NRSRO&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">The terms of our engagement are such that we have
no obligation to update this report because of events and transactions that may subsequently occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This report is intended solely for the information
and use of Consumer Portfolio Services, Inc. and Citigroup Global Markets Inc. It is not intended to be and should not be used
by any other person or entity, including investors and NRSROs, who are not identified in the report as Specified Parties but who
may have access to this report as required by law or regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: Red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">/s/ KPMG LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">August 28, 2015</P>



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