Investor Presentation

As of March 31, 2009

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  Specialty finance company  Irvine, California headquarters and
focused on the sub-prime auto three strategically located
market servicing branches in Virginia,
Florida and Illinois

 Established in 1991; IPO in 1992  Approximately 621 employees

 Through March 31, 2009,  As of March 31, 2009, managed

approximately $8.7 billion in portfolio of approximately $1.5
contract purchases from auto billion
dealers

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 U.S. Auto Finance Other Major
Market Market Players
2006 U.S. auto financing = $405 AmeriCredit
billion (1)
Capital One
$216 billion new; $189 billion used
Santander/Drive
Company estimates 20%, or $81
billion is “subprime”
Chase Custom
Historically fragmented market
CitiFinancial
Few dominant long-term players
Regional Acceptance/BB&T
Significant barriers to entry Manufacturers’ Captives

(1) According to CNW Marketing Research, Inc.

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  Purchase contracts from dealers in 46 states
 15 employee marketing reps in the field and six in-house
 Primarily factory franchised dealers

(1) Under the CPS programs for contracts purchased in the second half of 2008.
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  Since inception through December 2008 the Company has
originated over $8.7 billion

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 Primarily late
model, pre-owned
vehicles

• 16% New
• 84% Pre-owned
• 66% Domestic
• 34% Foreign

(1) Under the CPS programs for contracts purchased in the second half of
6 2008.
  CPS‟s risk-adjusted pricing results in program offerings
covering a wide band of the credit spectrum

Program (1) Avg. Yield (2) Avg. Amount Avg. FICO % of

Financed Purchases

Preferred 18.1% $16,295 579 3%

Super Alpha 19.8% $16,723 529 16%
Alpha Plus 22.1% $16,160 533 20%
Alpha 24.2% $14,896 521 47%
Standard 28.5% $13,086 529 4%
Mercury / Delta 30.9% $11,940 543 5%
First Time Buyer 30.9% $11,172 556 5%

(1) Under the CPS programs for contracts purchased in the second half of
7 2008.
(2) Contract APR as adjusted for fees charged (or paid) to dealer.
 Borrower:
• Average age 40 years
• Average time in job 7 years
• Average time in residence 5 years
• Average credit history 11 years
• Average household income $45,336 per year
• Percentage of homeowners 16%

Contract:
• Average amount financed $14,815
• Average monthly payment $409
• Average term 62 months
• Weighted Average APR 19.7%

(1) Under the CPS programs for contracts purchased in the second half of
8 2008.
 Contract Originations
 Centralized contract originations at
Irvine HQ
 Maximizes control and efficiencies
 Proprietary auto-decisioning system
 Makes initial credit decision on over
95% of incoming applications
 Enhances dealer service by
shortening response time
 Pre-funding verification of
employment, income and residency
 Protects against potential fraud
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Servicing
 Geographically dispersed servicing
centers enhance coverage and staffing
flexibility and drive portfolio
performance
 Early contact on past due accounts;
commencing as early as first day after
due date
 Early stage workload supplemented by
automated intelligent predictive dialer
 Workloads allocated based on
specialization and behavioral scorecards,
which enhances efficiencies
  Average LTV and Average PTI ratios have steadily decreased
Loan-to-Value Ratio Payment-to-Income Ratio

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  Two warehouse facilities aggregating $400 million terminated in
Q4 2008
› Pursuing alternative sources of liquidity

 Quarterly “AAA” rated asset-backed securities provided

historical long-term matched funding - $6.4 billion in 48 deals
since 1994
› Last deal completed in April 208

 $199 million whole loan sale (September 2008)

 $65 million residual financing maturity extended to June 2010

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  Recent decline is a result of reduced new contract
purchases in 2008 and 2009.

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  Three Quarter Rolling Average (31 or more days past due)

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  Average ABS Pool Cumulative Net Losses as of March 31, 2009
 ABS pools from 2003 onward exhibit substantially better performance

18.00%
1997
16.00%
1998
14.00%
2001
12.00%
2002
10.00%
2003
8.00%
2004
6.00%
4.00% 2005

2.00% 2006

0.00% 2007

Months Seasoned
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 LT Debt (left axis)
Residual Interest Debt (left axis)
Residual and LT Debt to Managed Portfolio (right axis)
160 35.00%
140 30.00%
120 25.00%
100
$ in Millions

20.00%
80
15.00%
60
40 10.00%
20 5.00%
- 0.00%

Period Ending
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  Recovery Rates Correlate to Manheim Index
Recovery Rate Manheim Used Vehicle Value Index (Quarterly Avg.) (1) Manheim Index
CPS Recovery Rate Quarterly Avg. (2)
50.00% 120.00

45.00% 115.00

40.00% 110.00

35.00% 105.00

30.00% 100.00

(1) Wholesale used vehicle prices (on a mix, mileage, and seasonally adjusted basis).
17 (2) Quarterly average net liquidation proceeds as a percentage of the net balance at the time of sale.
 March 31, December 31, December 31, December 31,
($ in millions) 2009 2008 2007 2006
Assets
Cash $ 20.8 $ 22.1 $ 20.9 $ 14.2
Restricted Cash 151.7 153.5 170.3 193.0
Finance receivables, net of allowance 1,207.4 1,339.3 1,967.9 1,401.4
Residual interest in securitizations 4.0 3.6 2.3 13.8
Deferred tax assets, net 52.7 52.7 58.8 54.7
Other Assets 57.7 67.6 62.6 51.5
$ 1,494.2 $ 1,638.8 $ 2,282.8 $ 1,728.6
Liabilities
Accounts payable and other liabilities $ 21.7 $ 21.7 $ 18.4 $ 20.9
Warehouse lines of credit 7.5 9.9 235.9 73.0
Income taxes payable --- --- 17.7 10.3
Residual interest financing 65.2 67.3 70.0 31.4
Securitization trust debt 1,265.4 1,404.2 1,798.3 1,443.0
Senior secured debt, related party 20.4 20.1 --- 25.0
Other debt 24.5 25.7 28.1 13.6
1,404.7 1,549.0 2,168.5 1,617.1
Shareholders‟ equity 89.5 89.8 114.4 111.5
18 $ 1,494.2 $ 1,638.8 $ 2,282.8 $ 1,728.6
 Three Months Ended Years Ended
($ in millions) March 31, March 31, December 31, December 31, December 31,
2009 2008 2008 2007 2006
Revenues
Interest income $ 61.2 $ 99.4 $ 351.6 $ 370.3 $ 263.6
Servicing fees 1.0 0.4 2.1 1.2 2.9
Other income 3.8 3.5 14.8 23.1 12.4
66.1 103.3 368.4 394.6 278.9
Expenses
Employee costs 9.3 13.5 48.9 46.7 38.5
General and administrative 9.1 12.1 44.4 47.4 42.0
Interest 32.1 39.0 156.3 139.2 93.1
Provision for credit losses 16.1 34.9 148.4 137.3 92.1
Loss on sale of receivables 0.0 0.0 14.0 0.0 0.0
66.6 99.5 411.9 370.6 265.7
Pretax income (loss) (0.5) 3.8 (43.5) 24.0 13.2
Income tax expense (gain) --- 1.7 (17.4) 10.1 (26.4)
Net income (loss) $ (0.5) $ 2.1 $ (26.1) $ 13.9 $ 39.6
EPS (loss) (fully diluted) $ (0.03) $ 0.11 $ (1.36) $ 0.61 $ 1.64
19 EPS without tax gain $ (0.03) $ 0.11 $ (1.36) $ 0.61 $ 0.55
 ($ in millions) Three Months Ended Years Ended

March 31, March 31, December 31, December 31, December 31,
2009 2008 2008 2007 2006

Auto contract purchases $1.1 $176.1 $296.8 $1,282.3 $1,019.0

Total managed portfolio $1,488.4 $2,092.1 $1,664.1 $2,126.2 $1,565.9
Risk-adjusted margin (1) $13.0 $25.4 $46.9 $93.8 $78.4
Core operating expenses (2)
$ amount $18.3 $25.6 $93.2 $94.1 $80.5

% of average managed 4.7% 4.8% 4.8% 4.9% 5.8%

portfolio
Total delinquencies and
repo inventory (30+ days)
(% of total owned 6.7% 4.8% 8.6% 6.3% 5.5%
portfolio)
Annualized net charge-offs
(% of average owned 11.6% 6.7% 7.7% 5.3% 4.5%
portfolio)

(1) Interest income less interest expense and provision for credit losses.
(2) Total expenses less provision for credit losses less interest expense, impairment loss on residual asset, and
20 loss on sale of receivables.
  CPS has weathered industry
turbulence to remain one of the
few independent public auto
finance companies
 Attractive industry
fundamentals as larger
competitors exit industry
 Disciplined approach to credit
quality and servicing
 Credit performance of more
recent vintages outperforming
competitors
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 Operating leverage through
economies of scale
 Opportunistic, successful
acquisitions
 Stable senior management team
with significant equity
ownership
 Senior management,
including vice presidents,
average 13 years of service
with the Company
  Any person considering an investment in securities issued by CPS is urged to review
the materials filed by CPS with the U.S. Securities and Exchange Commission
("Commission"). Such materials may be found by inquiring of the Commission„s
EDGAR search page (http://www.sec.gov/edgar/searchedgar/companysearch.html)
using CPS's ticker symbol, which is "CPSS." Risk factors that should be considered
are described in Item 1A, “Risk Factors," of CPS's annual report on Form 10-K,
which report is on file with the Commission and available for review at the
Commission's website. Such description of risk factors is incorporated herein by
reference.

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  Information included in the preceding slides is believed to be accurate, but is not
necessarily complete. Such information should be reviewed in its appropriate
context. The implication that historical trends will continue in the future, or that
past performance is indicative of future results, is disclaimed. To the extent that one
reading the following material nevertheless makes such an inference, such inference
would be a forward-looking statement, and would be subject to risks and
uncertainties that could cause actual results to vary. Such risks include variable
economic conditions, adverse portfolio performance (resulting, for example, from
increased defaults by the underlying obligors), volatile wholesale values of
collateral underlying CPS assets, reliance on warehouse financing and on the capital
markets, fluctuating interest rates, increased competition, regulatory changes, the
risk of obligor default inherent sub-prime financing, and exposure to litigation.

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