SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of Earliest Event Reported): June 8, 1998
National Auto Finance Company, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
0-22067 65-0688619
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(Commission File Number) (I.R.S. Employer
Identification No.)
621 N.W. 53rd Street, Suite 200
Boca Raton, Florida 33487
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(Address of Principal Executive Offices) (Zip Code)
(561) 997-2413
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(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
Filed herewith and incorporated herein by reference is a copy of the
National Auto Finance Company, Inc. (the "Company") Press Release, dated June 8,
1998, announcing the resignation of Roy E. Tipton as President and as a director
of the Company.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(a) Exhibits.
(99) Press Release, dated June 8, 1998.
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SIGNATURE
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 hereto duly authorized.
Date: June 9, 1998.
NATIONAL AUTO FINANCE COMPANY, INC.
By: /s/ Kevin G. Adams
Name: Kevin G. Adams
Title: Senior Vice President, Finance
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NATIONAL AUTO FINANCE COMPANY, INC.
FORM 8-KCURRENT REPORT
Exhibit Index
Exhibit No. Description Page
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(99) Press Release,
dated June 8, 1998
EXHIBIT (99)
[National Auto Finance Company, Inc. Logo]
Contact: Joel B. Ronkin
Vice President
(800) 999-7535
NATIONAL AUTO FINANCE COMPANY, INC.
ANNOUNCES THE RESIGNATION OF ITS PRESIDENT
BOCA RATON, Fla. (June 8, 1998) - Keith B. Stein, Chief Executive Officer of
National Auto Finance Company, Inc. (Nasdaq/NM:NAFI), today announced that Roy
E. Tipton has resigned as President and as a director of the Company to pursue
other interests. His resignation was effective June 5, 1998, but he will be
available to the Company on a consulting basis for the next 90 days.
"On behalf of the Company, we want to express our appreciation to Roy for
his efforts over the past four years," Stein said. "We wish him the best in his
future endeavors."
National Auto Finance is a specialized consumer finance company engaged in
the purchase, securitization and servicing of automobile loans primarily
originated by manufacturer-franchised automobile dealers for non-prime
consumers. The Company markets its products and services to dealers through the
efforts of its direct sales force and through strategic referral and marketing
alliances with financial and other institutions that have established
relationships with dealers. The Company has contractual relationships with
approximately 2,600 dealers in 40 states.
This news release contains statements that are forward-looking statements
within the meaning of applicable federal securities laws and are based upon the
Company's current expectations and assumptions which are subject to a number of
risks and uncertainties, which could cause actual results to differ materially
from those anticipated. Primary factors that could cause actual results to
differ include the availability of financing on terms and conditions acceptable
to the Company, the ability of the Company to securitize its finance contracts
in the asset-backed securities market on terms and conditions acceptable to the
Company, and changes in the quality or composition of the serviced loan
receivable portfolio. Certain of these as well as other factors are described in
more detail in the Company's Annual Report on Form 10-K for the year ended
December 31, 1997, and in certain other reports filed by the Company with the
Securities and Exchange Commission.
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