The information contained in Item 2.01 of this report is hereby incorporated by reference into this Item 1.01.

CPS disclaims any implication that the agreements relating to such transactions are other than agreements entered into in the ordinary course of CPS's business.

On September 26, 2008, the registrant and its wholly owned subsidiary CALT SPE, LLC ("Subsidiary") entered into a series of agreements under which the Subsidiary purchased from the registrant, and transferred to Auto Loan Trust, a Delaware statutory trust (the "Trust") approximately $198.7 million in adjusted principal balances of automobile purchase receivables. The purchase price was funded by the Trust's issuance and sale of structured notes, and was determined by negotiation. An affiliate of Citigroup purchased 95% of the notes, and the registrant purchased the remaining 5%. Another subsidiary of the registrant, Folio Funding II LLC, is indebted to a separate affiliate of Citigroup in the principal amount of approximately $68.25 million under a term credit facility, the terms of which were amended and restated on July 10, 2008. The description of the terms of that facility and of its amendment and restatement, contained in the registrant's report on Form 8-K filed July 16, 2008, is incorporated herein by this reference.

Neither financial statements nor pro forma financial information are filed with this report.

The following exhibits are filed as a part of this report:

Exhibit Number Description

10.24          Purchase and Sale Agreement re Motor Vehicle
               Contracts dated as of September 26, 2008 (to be
               filed by amendment).
10.25          Transfer and Servicing Agreement dated as of
               September 26, 2008 (to be filed by amendment).
99.1           Consumer Portfolio Services, Inc. October 1,
               2008 press release.