Exhibit 99.1

                          Annual Holders' Tax Statement

Summary of Payments for CPS Auto Receivables Trust 1998-3 for the Year Ended
December 31, 1998




                                             --------------     ------------------     -----------------
                                             Base Servicing     Principal Payments     Interest Payments
- ---------------------------------            --------------     ------------------     -----------------
                                                                              
CPS Auto Receivables Trust 1998-3            $2,339,829.34      $33,748,060.35         $6,100,922.46
- ---------------------------------            --------------     ------------------     -----------------



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