According to SubPrime Auto Finance, CPS likes staffing level as originations grow.
As Consumer Portfolio Services continues to buy more contracts, the company believes it’s in a good personnel position to handle more originations while the subprime auto finance segment gains steam.
CPS recently reported that it purchased $203.8 million of new contracts during the second quarter, up from $180.1 million during the first quarter of 2013 and $137.9 million during the year-ago period.
The growing originations left the company’s managed receivables at $1.067 billion as of June 30, an increase from $968.5 million as of March 31 and $806.1 million as of June 30 of last year.
