EXHIBIT 10.12

 
                                                                   EXHIBIT 10.12

                                     LEASE

                          dated as of October 27, 1997

                                    between

                              NIKKO CAPITAL CORP.,
                            a California corporation
                                   ("Lessor")

                                      and

                       CONSUMER PORTFOLIO SERVICES, INC.,
                            a California corporation
                                   ("Tenant")

                                   regarding

                              Property located in
                               Irvine, California