(11) Subsequent Events

On July 9, 2026, we renewed our two-year revolving credit agreement with Citibank, N.A., while simultaneously increasing the capacity of the facility. The renewal and increase apply to both Citibank, N.A. and the subordinate lender, and increases the capacity of the facility from $335 million to $508 million. The revolving period for this facility will extend to July 2028 after which CPS will have the option to repay the outstanding loans in full or to allow them to amortize for a one-year period.

On July 22, 2026, we completed our third securitization of 2026. In the transaction, qualified institutional buyers purchased $716.88 million of asset-backed notes secured by $734.51 million in automobile receivables originated by CPS. The sold notes, issued by CPS Auto Receivables Trust 2026-C, consist of five classes. Ratings of the notes were provided by Standard & Poor’s and DBRS Morningstar, and were based on the structure of the transaction, the historical performance of similar receivables and CPS’s experience as a servicer. The weighted average interest rate on the notes is approximately 5.90%.