<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(AMENDMENT NO. __________ )(1)
NATIONAL AUTO CREDIT, INC
(NAME OF ISSUER)
Common Stock, $.05 par value
(TITLE OF CLASS OF SECURITIES)
632900 10 6
(CUSIP NUMBER)
JUNE 23, 1998
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ X ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
- ----------
(1) The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
1
<PAGE> 2
CUSIP NO. 632900 10 6 13G
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Ernest C. Garcia II
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
NOT APPLICABLE
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Arizona, United States of America
NUMBER OF 5. SOLE VOTING POWER
SHARES
BENEFICIALLY 1,972,630 (Item 4)
OWNED 6. SHARED VOTING POWER
BY
EACH 0
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON
WITH 1,972,630 (Item 4)
8. SHARED DISPOSITIVE POWER
0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,972,630 (Item 4)
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
[ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.91% (Item 4)
12. TYPE OF REPORTING PERSON
IN
2
<PAGE> 3
CUSIP NO. 632900 10 6 13G
Item 1(a) NAME OF ISSUER:
NATIONAL AUTO CREDIT, INC.("NAC")
Item 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
30000 Aurora Road
Solon, OH 44139
Item 2(a) NAME OF PERSON FILING:
Ernest C. Garcia II
Item 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
2525 East Camelback Road, Suite 1150
Phoenix, Arizona 85016
Item 2(c) CITIZENSHIP:
United States of America
Item 2(d) TITLE OF CLASS OF SECURITIES:
Common Stock, $.05 par value ("Common Stock")
Item 2(e) CUSIP NUMBER:
632900 10 6
Item 3 IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR
13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: NOT
APPLICABLE
(a) [ ] Broker or Dealer registered under Section 15 of the Act.
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance company as defined in Section 3(a)(19) of the
Exchange Act.
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act of 1940.
(e) [ ] An investment advisor in accordance with Rule 13d-1(b)(1)
(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3 (b) of the
Federal Deposit Insurance Act;
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1 (c), check this box. [ X ]
3
<PAGE> 4
CUSIP NO. 632900 10 6 13G
Item 4 OWNERSHIP:
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount Beneficially Owned: 1,972,630
(b) Percent of Class: 6.91% (1)
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
1,972,630
(ii) Shared power to vote or to direct the vote
0
(iii) Sole power to dispose or to direct the disposition of
1,972,630
(iv) Shared power to dispose or to direct the disposition of
0
Item 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [ ]
NOT APPLICABLE
Item 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON.
NOT APPLICABLE
Item 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY.
NOT APPLICABLE
Item 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
NOT APPLICABLE
- --------
(1) Ownership percentage of Common Stock is based upon the common shares
outstanding per the Issuer's October 31, 1997 Form 10-Q (28,547,944
shares of Common Stock outstanding at November 28, 1997). This is the
most current public document on file with the SEC, which the reporting
person was able to locate since the Issuer has filed a Form 12B-25 to
extend the filing of its Form 10-K for the fiscal year ended January
31, 1998.
4
<PAGE> 5
CUSIP NO. 632900 10 6 13G
Item 9 NOTICE OF DISSOLUTION OF GROUP.
NOT APPLICABLE
Item 10 CERTIFICATIONS.
By signing below I certify that to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
5
<PAGE> 6
CUSIP NO. 632900 10 6 13G
SIGNATURE:
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true,
complete and correct.
June 30, 1998
----------------
(Date)
/s/ ERNEST C. GARCIA II
------------------------
(Signature)
ERNEST C. GARCIA II, AS AN INDIVIDUAL
-------------------------------------
(Name/Title)
6
