SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON DC 20549

                                  -------------

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

          Date of Report (Date of earliest event reported) March 24, 2005

                        CONSUMER PORTFOLIO SERVICES, INC.
                        ---------------------------------
               (Exact Name of Registrant as Specified in Charter)

         CALIFORNIA                001-14116                     33-0459135
         ----------                ---------                     ----------
(State or Other Jurisdiction       (Commission                  (IRS Employer
     of Incorporation)             File Number)           Identification No.)

                   16355 Laguna Canyon Road, Irvine, CA 92618
                   ------------------------------------------
               (Address of Principal Executive Offices) (Zip Code)

        Registrant's telephone number, including area code (949) 753-6800

                                 Not Applicable
                                 --------------
          (Former name or former address, if changed since last report)





ITEM 2.02       RESULTS OF OPERATIONS AND FINANCIAL CONDITION

The information in this Current Report is being furnished and shall not be
deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that Section. The
information in this Current Report shall not be incorporated by reference into
any registration statement or other document pursuant to the Securities Act of
1933, as amended.

On March 24, 2005, the registrant issued a news release announcing its financial
results for the quarter and year ended December 31, 2004. A copy of the release
is attached as Exhibit 99.1.

Exhibit 99.1 to the report may contain a "non-GAAP financial measure" as defined
in Item 10 of Regulation S-K of the Securities Exchange Act of 1934, as amended.
The possible non-GAAP financial measure is "managed receivables." This possible
non-GAAP financial measure is discussed below, including the most directly
comparable financial measure calculated and presented in accordance with
Generally Accepted Accounting Principles in the United States ("GAAP"), a
reconciliation of managed receivables to the most directly comparable GAAP
financial measure, and the reasons why the Company believes the presentation of
managed receivables provides useful information to management and to investors.
Managed receivables should be viewed in addition to, and not as an alternative
for, the Company's reported results prepared in accordance with GAAP.

On page 1 of the earnings release included in Exhibit 99.1, the Company stated
that managed receivables were $906.9 million at December 31, 2004. The most
directly comparable financial measure calculated and presented in accordance
with GAAP to the managed receivables measure is finance receivables on the
consolidated balance sheet. The managed receivables measure also includes (i)
the finance receivables held by unconsolidated subsidiaries off balance sheet
pursuant to statement on financial accounting standards No. 140, (ii) finance
receivables serviced by the Company without any ownership interest, and (iii)
repossessed vehicles included in other assets in the Company's balance sheet. In
addition, the managed receivables measure includes allowance for credit losses,
unearned origination fees, and certain other less significant adjustments.

The following table reconciles the Company's finance receivables, prepared on
the basis of GAAP, to managed receivables as of December 31, 2004:



                                        2





                                                               December 31, 2004
                                                                (in millions)
                                                                -------------
Net finance receivables per balance sheet                             $ 550.2
Allowance for finance receivables credit losses                          42.6
Unearned origination fees                                                15.1
Finance receivables held by unconsolidated subsidiaries                 233.6
Finance receivables serviced without ownership interest                  53.5
Adjustment for discount and Rule of 78s                                   3.5
Repossessed vehicles included in other assets on balance sheet            8.1
Other                                                                     0.3
                                                                -------------
                                                                      $ 906.9
                                                                =============

The managed receivables measure is useful to management and investors because it
provides a basis for estimating (i) the Company's servicing fee revenue and (ii)
the Company's servicing personnel requirements. The managed receivables measure
is primarily used by investors and analysts, for those purposes.


ITEM 9.01       FINANCIAL STATEMENTS AND EXHIBITS

         (c) Exhibits.

          EXHIBIT NUMBER            DESCRIPTION
               99.1                 News Release dated March 24, 2005

                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.

                                     CONSUMER PORTFOLIO SERVICES, INC.


Dated: March 29, 2005                 By: /s/ ROBERT E. RIEDL
                                      ---------------------------------------
                                         Robert E. Riedl
                                         Sr. Vice President and
                                         chief financial officer

                                         Signing on behalf of the registrant
                                         and as principal financial officer

                                  EXHIBIT INDEX

EXHIBIT NUMBER            DESCRIPTION

99.1 News Release dated March 24, 2005