Unit of Irvine Firm Plans Securities Issuing

Consumer Portfolio Services Inc. said in a filing Friday with regulators that a subsidiary will sell up to $500 million of certificates backed by automobile installment sales contracts.

The company plans to issue the securities as it makes or acquires sales contracts on new or used cars and trucks, according to the document filed with the Securities and Exchange Commission.

Under the so-called shelf filing, the company can register securities in advance and sell them from time to time as it needs financing.