15. Subsequent Events	12 Months Ended
Dec. 31, 2015
Subsequent Events [Abstract]
15. Subsequent Events	On January 27, 2016 we executed our first securitization of 2016. In the transaction, qualified institutional buyers purchased $329.5 million of asset-backed notes secured by $340.0 million in automobile receivables purchased by us. The sold notes, issued by CPS Auto Receivables Trust 2016-A, consist of five classes. Ratings of the notes were provided by Standard & Poor’s and DBRS and were based on the structure of the transaction, the historical performance of similar receivables and our experience as a servicer. We retained the most subordinated notes, Class F, in the principal amount of $10,540,000. The weighted average yield on the notes, including the retained notes, is approximately 4.34%. The 2016-A transaction has initial credit enhancement consisting of a cash deposit equal to 1.00% of the original receivable pool balance. The final enhancement level requires accelerated payment of principal on the notes to reach overcollateralization of 4.00% of the then-outstanding receivable pool balance. The transaction utilizes a pre-funding structure, in which CPS sold approximately $255.9 million of receivables on January 27, 2016 and sold $84.1 million of additional receivables on February 5, 2016. The transaction was a private offering of securities, not registered under the Securities Act of 1933, or any state securities law.

15. Subsequent Events

12 Months Ended

Dec. 31, 2015

On January 27, 2016 we executed our first securitization of 2016. In the transaction, qualified institutional buyers purchased $329.5 million of asset-backed notes secured by $340.0 million in automobile receivables purchased by us. The sold notes, issued by CPS Auto Receivables Trust 2016-A, consist of five classes. Ratings of the notes were provided by Standard & Poor’s and DBRS and were based on the structure of the transaction, the historical performance of similar receivables and our experience as a servicer. We retained the most subordinated notes, Class F, in the principal amount of $10,540,000. The weighted average yield on the notes, including the retained notes, is approximately 4.34%.

The 2016-A transaction has initial credit enhancement consisting of a cash deposit equal to 1.00% of the original receivable pool balance. The final enhancement level requires accelerated payment of principal on the notes to reach overcollateralization of 4.00% of the then-outstanding receivable pool balance. The transaction utilizes a pre-funding structure, in which CPS sold approximately $255.9 million of receivables on January 27, 2016 and sold $84.1 million of additional receivables on February 5, 2016.

The transaction was a private offering of securities, not registered under the Securities Act of 1933, or any state securities law.