NATIONAL FINANCIAL AUTO FUNDING TRUST
15-15D, 1997-01-23
ASSET-BACKED SECURITIES
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                     FORM 15

 CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION 12(G) OF
 THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER
          SECTIONS 13 AND 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934.

                                                 COMMISSION FILE NUMBER 33-80813
                                                                        --------

                    The National Financial Auto Funding Trust
                    -----------------------------------------
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

 One Park Place, 621 NW 53rd Street, Boca Raton, Florida 33487, (407) 997-2747
 -----------------------------------------------------------------------------
    (ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER, INCLUDING AREA CODE,
                  OF REGISTRANT'S PRINCIPAL EXECUTIVE OFFICES)

                    National Auto Finance 1996-1 Trust 6.33%
                   Automobile Receivables-Backed Certificates
                   ------------------------------------------
            (TITLE OF EACH CLASS OF SECURITIES COVERED BY THIS FORM)

- --------------------------------------------------------------------------------
       (TITLES OF ALL OTHER CLASSES OF SECURITIES FOR WHICH A DUTY TO FILE
                 REPORTS UNDER SECTION 13(A) OR 15(D) REMAINS)

    PLEASE PLACE AN X IN THE BOX(ES) TO DESIGNATE, THE APPROPRIATE RULE
PROVISION(S) RELIED UPON TO TERMINATE OR SUSPEND THE DUTY TO FILE REPORTS:

    Rule 12g-4(a)(1)(i)       |_|           Rule 12h-3(b)(1)(i)         |X|
    Rule 12g-4(a)(1)(ii)      |_|           Rule 12h-3(b)(1)(ii)        |_|
    Rule 12g-4(a)(2)(i)       |_|           Rule 12h-3(b)(2)(i)         |_|
    Rule 12g-4(a)(2)(ii)      |_|           Rule 12h-3(b)(2)(ii)        |_|
                                            Rule 15d-6                  |X|

                     APPROXIMATE NUMBER OF HOLDERS OF RECORD
                 AS OF THE CERTIFICATION OR NOTICE DATE: Eleven
                                                         ------

    PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE
NATIONAL COLLEGIATE TRUST 1996-S1 HAS CAUSED THIS CERTIFICATION/NOTICE TO BE
SIGNED ON ITS BEHALF OF THE UNDERSIGNED DULY AUTHORIZED PERSON.

DATE: January 22, 1997         By: Thomas J. Cassidy
      ----------------             Thacher Proffitt & Wood
                                   New York, New York

INSTRUCTION: THIS FORM IS REQUIRED BY RULES 12G-4, 12H-3 AND 15D-6 OF THE
GENERAL RULES AND REGULATIONS UNDER THE SECURITIES EXCHANGE ACT OF 1934. THE
REGISTRANT SHALL FILE WITH THE COMMISSION THREE COPIES OF FORM 15, ONE OF WHICH
SHALL BE MANUALLY SIGNED. IT MAY BE SIGNED BY AN OFFICER OF THE REGISTRANT, BY
COUNSEL OR BY ANY OTHER DULY AUTHORIZED PERSON. THE NAME AND TITLE OF THE PERSON
SIGNING THE FORM SHALL BE TYPED OR PRINTED UNDER THE SIGNATURE.



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