FIRST AMENDMENT TO
SECURITIES PURCHASE AGREEMENT
THIS FIRST AMENDMENT TO SECURITIES PURCHASE AGREEMENT is dated as of July 10, 2008
(this "AMENDMENT"), by and between CONSUMER PORTFOLIO SERVICES, INC., a California
corporation (the "COMPANY"), and LEVINE LEICHTMAN CAPITAL PARTNERS IV, L.P., a Delaware
limited partnership (the "PURCHASER").
R E C I T A L S
A. The Company and the Purchaser are parties to that certain Securities Purchase Agreement dated as of June
30, 2008 (as amended from time to time, the "SECURITIES PURCHASE AGREEMENT"), by and between
the Company and the Purchaser pursuant to which, among other things, the Company issued and sold to the
Purchaser, and the Purchaser purchased from the Company, the Securities, all on the terms and subject to the
conditions set forth therein. Unless otherwise indicated, all capitalized terms used and not otherwise defined
herein have the respective meanings ascribed to them in the Securities Purchase Agreement.
B. Pursuant to the terms of Section 2.6 of the Securities Purchase Agreement, on the date hereof, the Company
is issuing and selling to the Purchaser, and the Purchaser is purchasing from the Company, the Term B Note (I.E.,
a Secured Senior Note Due 2013, in substantially the form of the Term A Note but in the principal face amount
C. In connection with the purchase of the Term B Note by the Purchaser, the parties wish to amend certain
provisions of the Securities Purchase Agreement as provided herein.
A G R E E M E N T
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants, conditions and provisions
contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:
1. PURCHASE AND SALE OF TERM B NOTE.
(a) AUTHORIZATION. The Company has authorized the issuance, sale and delivery to the Purchaser of the
Term B Note.
(b) PURCHASE AND SALE OF TERM B NOTE. Subject to the terms