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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
August 10, 1998
(Date of Report - Date of Earliest Event Reported)
NATIONAL AUTO CREDIT, INC.
(Exact Name of Registrant as Specified in its Charter)
DELAWARE 1-11513 34-1816760
(State or Other Jurisdiction of (Commission (I.R.S. Employer
Incorporation or Organization) File No.) Identification No.)
30000 AURORA ROAD, SOLON, OHIO 44139
(Address of Principal Executive Offices and Zip Code)
(440) 349-1000
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former name or former address, if changed from last report)
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Item 5. Other Matters
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On August 10, 1998, National Auto Credit, inc. (the "Company") completed
formalization of an agreement, with its lenders to further extend the maturity
date of the amounts outstanding under its credit agreements until September 30,
1998.
Pursuant to this agreement, which is effective May 29, 1998, the Company has
made a principal payment of $9 million, and commencing June 5, 1998 weekly
payments of $1 million principal and interest, at the prime rate plus two
percent, which it is required to make through September 30, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NATIONAL AUTO CREDIT, INC.
Dated: August 17, 1998 /s/ Davida S. Howard
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Davida S. Howard
Vice President-Finance and Controller
