Exhibit 99.1


                                                                    NEWS RELEASE
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                       CPS ANNOUNCES $10 MILLION FINANCING


IRVINE, California, July 1, 2008 - Consumer Portfolio Services, Inc. (Nasdaq:
CPSS) today announced that it has closed a new $10 million senior secured
financing with an affiliate of Levine Leichtman Capital Partners ("LLCP"). The
Company can receive an additional $15 million in financing if certain terms and
conditions are met. LLCP received in aggregate 3 million shares of common stock
and warrants in connection with the transaction. No additional equity is
contemplated in relation to the additional $15 million.

"This transaction provides liquidity to the Company in this difficult capital
markets environment," said Charles E. Bradley, Jr., President and Chief
Executive Officer. "While our sector remains under a cloud of negative
sentiment, we continue executing our business plan. In the last nine months we
have increased the yield on new contract purchases by over 500 basis points and
substantially tightened credit. Asset performance remains well within
expectations."

ABOUT CONSUMER PORTFOLIO SERVICES, INC.

Consumer Portfolio Services, Inc. is a specialty finance company engaged in
purchasing and servicing new and used retail automobile contracts originated
primarily by franchised automobile dealerships and to a lesser extent by select
independent dealers of used automobiles in the United States. We serve as an
alternative source of financing for dealers, facilitating sales to sub-prime
customers, who have limited credit history, low income or past credit problems
and who otherwise might not be able to obtain financing from traditional
sources.

ABOUT LEVINE LEICHTMAN CAPITAL PARTNERS

Levine Leichtman Capital Partners is a Los Angeles, California-based investment
firm that manages in excess of $4.0 billion of institutional investment capital
through private equity partnerships, distressed debt and leveraged loan funds.
LLCP is currently making new investments through Levine Leichtman Capital
Partners IV, L.P., Levine Leichtman Capital Partners California Growth Fund,
L.P. and Levine Leichtman Capital Partners Deep Value Fund, L.P. Investments by
Levine Leichtman Capital Partners include, among others, Jon Douglas Real Estate
Services Group, Inc., the Quizno's Corporation, Wetzel's Pretzels and CiCi's
Pizza, Inc.

INVESTOR CONTACTS

CONSUMER PORTFOLIO SERVICES, INC.

ROBERT RIEDL
949-753-6800

Erica Waldow
888-505-9200