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
Date of Report(Date of earliest event reported): May 15, 2000
Onyx Acceptance Grantor Trust 2000-B
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(Issuer with respect to Certificates)
Onyx Acceptance Financial Corporation
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(Exact Name of Registrant as Specified in Its Charter)
Commission File Number
333-92245 (I.R.S. EmployerIdentification No.)
33-0639768
State or other jurisdiction of incorporation or organization
Delaware
Onyx Acceptance Financial Corporation
27051 Towne Centre Drive
Foothill Ranch 92610
949 465-3900
Item 5. Other Events
On behalf of the Onyx Acceptance Owner Trust 2000-B, (the"Trust"), a
trust created pursuant to the Trust Agreement dated as of April 1,2000 with
Onyx Acceptance Financial Corporation as registrant and seller and Bankers
Trust(Delaware) as Owner Trustee and The Chase Manhattan Bank as
Trust Agent, the registrant has caused to be filed with the Commission, the
May 2000 monthly Distribution Date Statement with respect to the
Trust. This Distribution Date Statement is filed pursuant to and in
accordance with a no action request filed on August 21, 1995 with the
Commission by Onyx Acceptance Financial Corporation, originator of the
Onyx Acceptance Owner Trust 2000-B and Onyx Acceptance Corporation as servicer
and the affirmative response thereto by the Securities and Exchange
Commission dated September 22, 1995. The filing
of the monthly Distribution Date Statement will occur subsequent to each monthly
distribution to the Trust's Securityholders until and unless exempted under
provisions of the Securities and Exchange Act.
Item 7. Financial Statements and Exhibits
(a) Financial Statements
None
(c) Exhibits
Exhibit No.
19.Monthly Distribution Date Statement of the Onyx Acceptance Owner
Trust 2000-B for the month of May 2000.
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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, thereunto duly authorized.
Onyx Acceptance Financial Corporation
DON P. DUFFY
By:_____________________________________________________
Don P. Duffy Executive Vice President
Date: May 26, 2000
Exhibit 19
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Onyx Acceptance Owner Trust 2000-B Distribution Date Statement
6.4125% Class A-1 Auto Loan Backed Notes $77,800,000
7.02% Class A-2 Auto Loan Backed Notes $120,000,000
7.29% Class A-3 Auto Loan Backed Notes $131,000,000
7.38% Class A-4 Auto Loan Backed Notes $94,200,000
7.56% Class B Auto Loan Backed Notes $27,000,000 29-Nov-99
Total Securities Issued $450,000,000
Collection Period Beginning on: 04/01/00
Collection Period Ending on: 04/30/00
Distribution Date: 05/15/00
1 Original Pool Balance of underlying Contracts $450,000,000.00
1a Subsequent Contracts $113,703,887.19
1b Original Prefunded Amount $92,572,240.33
2 Collection Period Beginning Pool Balance of underlying Contracts $243,723,872.48
3 Securities Balance $450,000,000.00
Net Collections for the Collection Period
4 Monthly P&I, partial prepayments & Full Prepayments in Calendar Month $10,212,410.99
5 Full Prepayments through first 5 business days of current month (Precompute only) 26,275.16
5a Full Prepayments through first 5 business days of current month (Simple interest only1,270,577.94
6 Full Prepayments included in Prior Collection Period (Precompute only) 0.00
6a Full Prepayments included in Prior Collection Period (Simple Interest only) 0.00
7 Partial Prepayments of Rule of 78's contracts deposited to PayAhead Acct 66,938.72
8 Amounts Withdrawn from PayAhead Acct & Deposited to Collection Acct 0.00
9 Capitalized Interest Amount 328,561.02
10 Net Liquidation Proceeds on Defaulted Contracts 0.00
11 Net Liquidation Proceeds first 5 business days of current month 0.00
12 Net Liquidation Proceeds included in Prior Collection Period 0.00
13 Net Insurance Proceeds 0.00
14 Net Insurance Proceeds first 5 business days of current month 0.00
15 Net Insurance Proceeds included in Prior Collection Period 0.00
16 Aggregate Purchase Amount for Purchased Contracts (Repurchases) 0.00
17 Reinvestment earnings on Funds in Collection Acct (ccma acct #012958) 19,666.67
17a Prepayment Amount (Final Funding Period Distribution Date only) (236) 0.00
17b Investment earnings on funds in Prefunding Account 0.00
18 Net Collections (4+5+5a-6-6a-7+8+9+10+11-12+13+14-15+16+17+17a) $11,790,553.06
Computation of Regular Principal Distributable Amount
19 Scheduled Principal Decline (recomputed actuarial) Precompute contracts only 322,481.34
20 Principal Collected: Payments only - Simple Interest contracts 2,656,724.33
21 Principal Collected: Full Prepayments - S.I. thru month-end 3,794,676.91
22 Full Prepayments through first 5 business days of current month: Simple Interest only 1,270,577.94
23 Full Prepayments: Precompute only thru month end 280,592.26
24 Full Prepayments through first 5 business days of current month: Precompute only 26,275.16
25 Defaulted Contracts (Liquidated Proceeds received) 4,368.84
26 Defaulted Contracts (Liquidated Proceeds received) thru 1st 5 days 0.00
27 Defaulted Contracts (4 or more periods.Liquidated Proceeds not received) 0.00
28 Defaulted Contracts (4 or more periods.Liquidated Proceeds not received) 1st 5 days 0.00
29 Repurchased Contracts 0.00
30 Regular Principal Distributable Amount (Sum of 19 thru 29) $8,355,696.78
30a Subsequent Contracts sold to Trust during related Collection Period $113,703,887.19
30b Prefunded Contracts sold to Trust during related Collection Period $0.00
31 Collection Period Ending Pool Balance of underlying Contracts $349,072,062.89
32 Collection Period Ending Pool Balance as a percent of Original Pool Balance 77.57%
33 Accelerated Principal Target Level N/A
34 Accelerated Principal Distributable Amount $0.00
Calculation of Class A Note Interest Distributable Amount
35 Class A-1 Notes: Outstanding Principal Amount as of end of prior Distribution Date$77,800,000.00
36 Class A-1 Note Interest Carryover Shortfall $0.00
37 Class A-1 Note Interest Accrual over Interest Accrual Period $235,588.13
38 Class A-1 Note Interest Distributable Amount (36 + 37) $235,588.13
39 Class A-2 Notes: Outstanding Principal Amount as of end of prior Distribution Dat$120,000,000.00
40 Class A-2 Note Interest Carryover Shortfall $0.00
41 Class A-2 Note Interest Accrual over Interest Accrual Period $397,800.00
42 Class A-2 Note Interest Distributable Amount (40 + 41) $397,800.00
43 Class A-3 Notes: Outstanding Principal Amount as of end of prior Distribution Dat$131,000,000.00
44 Class A-3 Note Interest Carryover Shortfall $0.00
45 Class A-3 Note Interest Accrual over Interest Accrual Period $450,967.50
46 Class A-3 Note Interest Distributable Amount (44 + 45) $450,967.50
47 Class A-4 Notes: Outstanding Principal Amount as of end of prior Distribution Date$94,200,000.00
48 Class A-4 Note Interest Carryover Shortfall $0.00
49 Class A-4 Note Interest Accrual over Interest Accrual Period $328,287.00
50 Class A-4 Note Interest Distributable Amount (48 + 49) $328,287.00
51 Class A Note Interest Distributable Amount - Total all Notes (38+43+46+50) $1,412,642.63
Calculation of Class A Note Principal Distributable Amount
52 Class A-1 Note original outstanding principal amount $77,800,000.00
53 Class A-1 Note outstanding principal amount: Beginning $77,800,000.00
54 Class A-1 Note Principal Carryover Shortfall $0.00
55 Class A-1 Note Percentage 100%
56 Class A-1 Note Percentage multiplied by Regular Principal Distributable Amt $8,355,696.78
57 Class A-1 Note Accelerated Principal Distributable Amount $0.00
58 Class A-1 Note Principal Distributable Amount $8,355,696.78
59 Class A-1 Note outstanding principal amount: Ending $69,444,303.22
60 Class A-1 Note Pool Factor 0.892600
61 Class A-2 Note original outstanding principal amount $120,000,000.00
62 Class A-2 Note outstanding principal amount: Beginning $120,000,000.00
63 Class A-2 Note Principal Carryover Shortfall $0.00
64 Class A-2 Note Percentage 0%
65 Class A-2 Note Percentage multiplied by Regular Principal Distributable Amt $0.00
66 Class A-2 Note Accelerated Principal Distributable Amount $0.00
67 Class A-2 Note Principal Distributable Amount $0.00
68 Class A-2 Note outstanding principal amount: Ending $120,000,000.00
69 Class A-2 Note Pool Factor 1.000000
70 Class A-3 Note original outstanding principal amount $131,000,000.00
71 Class A-3 Note outstanding principal amount: Beginning $131,000,000.00
72 Class A-3 Note Principal Carryover Shortfall $0.00
73 Class A-3 Note Percentage 0%
74 Class A-3 Note Percentage multiplied by Regular Principal Distributable Amt $0.00
75 Class A-3 Note Accelerated Principal Distributable Amount $0.00
76 Class A-3 Note Principal Distributable Amount $0.00
77 Class A-3 Note outstanding principal amount: Ending $131,000,000.00
78 Class A-3 Note Pool Factor 1.000000
79 Class A-4 Note original outstanding principal amount $94,200,000.00
80 Class A-4 Note outstanding principal amount: Beginning $94,200,000.00
81 Class A-4 Note Principal Carryover Shortfall $0.00
82 Class A-4 Note Percentage 0%
83 Class A-4 Note Percentage multiplied by Regular Principal Distributable Amt $0.00
84 Class A-4 Note Accelerated Principal Distributable Amount $0.00
85 Class A-4 Note Principal Distributable Amount $0.00
86 Class A-4 Note outstanding principal amount: Ending $94,200,000.00
87 Class A-4 Note Pool Factor 1.000000
88 Class A Note Principal Distributable Amount $8,355,696.78
89 Class A Note outstanding principal amount -Ending $414,644,303.22
90 Accelerated Principal Distributable Amount $0.00
91 Note Distributable Amount - (Principal & Interest) $9,768,339.41
92 Memo: Class A Note Principal Carryover Shortfall - Total $0.00
Calculation of Class B Note Interest Distributable Amount
93 Class B Note Interest Accrual Period begins
94 Class B Note Interest Accrual Period ends
95 Class B Balance as of immediately preceding Distribution Date $27,000,000.00
96 Class B Note Interest Carryover Shortfall $0.00
97 Class B Note Interest Accrual over Interest Accrual Period $96,390.00
98 Class B Note Interest Distributable Amount (96 + 97) $96,390.00
Calculation of Class B Note Principal Distributable Amount
99 Original Class B Note Balance $27,000,000.00
100 Class B Note Balance: Beginning $27,000,000.00
101 Class B Note Principal Carryover Shortfall $0.00
102 Class B Note Percentage 0%
103 Class B Note Percentage multiplied by Regular Principal Distributable Amt $0.00
104 Class B Note Principal Distributable Amount $0.00
105 Class B Note Balance: Ending $27,000,000.00
106 Class B Note Pool Factor 1.000000
107 Class B Note Distributable Amount (Principal & Interest) $96,390.00
108 Securities Balance - Beginning $450,000,000.00
109 Principal Distribution Amount $8,355,696.78
110 Securities Balance - Ending $441,644,303.22
Calculation of Total Distribution Amount
111 Interest Distribution Amount $1,509,032.63
112 Principal Distribution Amount $8,355,696.78
113 Total Distribution Amount $9,864,729.41
NET COLLECTIONS PAYOUT ALLOCATION
114 Reinvestment Earnings $19,666.67
115 Servicing Fee Paid this Period to Servicer $203,103.23
Class A Note Interest Paid Calculation
116 Class A-1 Note Interest Carryover Shortfall (Beginning) $0.00
117 Interest Due on Above Beginning Shortfall $0.00
118 Class A-1 Note Interest Distributable Amount $235,588.13
119 Class A-1 Note Interest Paid this Period $235,588.13
120 Class A-1 Note Interest Carryover Shortfall (Ending) $0.00
121 Class A-2 Note Interest Carryover Shortfall (Beginning) $0.00
122 Interest Due on Above Beginning Shortfall $0.00
123 Class A-2 Note Interest Distributable Amount $397,800.00
124 Class A-2 Note Interest Paid this Period $397,800.00
125 Class A-2 Note Interest Carryover Shortfall $0.00
126 Class A-3 Note Interest Carryover Shortfall $0.00
127 Interest Due on Above Beginning Shortfall $0.00
128 Class A-3 Note Interest Distributable Amount $450,967.50
129 Class A-3 Note Interest Paid this Period $450,967.50
130 Class A-3 Note Interest Carryover Shortfall (Ending) $0.00
131 Class A-4 Note Interest Carryover Shortfall (Beginning) $0.00
132 Interest Due on Above Beginning Shortfall $0.00
133 Class A-4 Note Interest Distributable Amount $328,287.00
134 Class A-4 Note Interest Paid this Period $328,287.00
135 Class A-4 Note Interest Carryover Shortfall (Ending) $0.00
136 Class A Note Interest Carryover Shortfall (Beginning) $0.00
137 Interest Due on Above Beginning Shortfall $0.00
138 Class A Note Interest Distributable Amount $1,412,642.63
139 Class A Note Interest Paid this Period $1,412,642.63
140 Class A Note Interest Carryover Shortfall (Ending) $0.00
Class B Note Interest Paid Calculation
141 Class B Note Interest Carryover Shortfall (Beginning) $0.00
142 Class B Note Interest Due on Above Beginning Shortfall $0.00
143 Class B Note Interest Distributable Amount $96,390.00
144 Class B Note Interest Paid this Period $96,390.00
145 Class B Note Interest Carryover Shortfall (Ending) $0.00
Class A Note Principal Paid Calculation
146 Class A-1 Note Principal Carryover Shortfall (Beginning) $0.00
147 Class A-1 Note Principal Distributable Amount $8,355,696.78
148 Class A-1 Note Principal Paid this Period $8,355,696.78
149 Class A-1 Note Principal Carryover Shortfall (Ending) $0.00
150 Class A-2 Note Principal Carryover Shortfall (Beginning) $0.00
151 Class A-2 Note Principal Distributable Amount $0.00
152 Class A-2 Note Principal Paid this Period $0.00
153 Class A-2 Note Principal Carryover Shortfall (Ending) $0.00
154 Class A-3 Note Principal Carryover Shortfall (Beginning) $0.00
155 Class A-3 Note Principal Distributable Amount $0.00
156 Class A-3 Note Principal Paid this Period $0.00
157 Class A-3 Note Principal Carryover Shortfall (Ending) $0.00
158 Class A-4 Note Principal Carryover Shortfall (Beginning) $0.00
159 Class A-4 Note Principal Distributable Amount $0.00
160 Class A-4 Note Principal Paid this Period $0.00
161 Class A-4 Note Principal Carryover Shortfall (Ending) $0.00
162 Class A Note Principal Carryover Shortfall (Beginning) $0.00
163 Class A Note Principal Distributable Amount $8,355,696.78
164 Class A Note Principal Paid this Period $8,355,696.78
165 Class A Note Principal Carryover Shortfall (Ending) $0.00
Class B Note Principal Paid Calculation
166 Class B Note Principal Carryover Shortfall (Beginning) $0.00
167 Class B Note Principal Distributable Amount $0.00
168 Class B Note Principal Paid this Period $0.00
169 Class B Note Principal Carryover Shortfall (Ending) $0.00
Summary of Distributions Paid from Net Collections this Period
170 Reinvestment Earnings on Funds in Collection Account Payable to Servicer $19,666.67
171 Servicing Fee Payable to Servicer $203,103.23
172 Class A Note Interest Distributable Amount Paid this Period 1,412,642.63
173 Class B Note Interest Distributable Amount Paid this Period 96,390.00
174 Class A Note Principal Distributable Amount Paid this Period $8,355,696.78
175 Class B Note Principal Distributable Amount Paid this Period $0.00
176 Surety Fee Payable to Insurer 67,500.00
177 Reinsurance Fee Payable to Insurer 20,625.00
178 Total Distributions from Collection Account $10,175,624.31
179 Total Excess Spread Available for Deposit to Spread Account $1,614,928.75
SPREAD ACCOUNT RECONCILIATION
180 Initial Deposit $0.00
181 Deposits to Spread Account Prior Collection Periods $0.00
182 Deposit to Spread Account this Collection Period $1,614,928.75
183 Reinvestment Earnings on Funds in Spread Acct $0.00
184 Draws from Spread Account Prior Periods $0.00
185 Spread Account Balance $1,614,928.75
186 Required Spread Account Balance $13,082,215.16
186a Required Spread Account Cash Balance $13,082,215.16
187 Draws from Spread Account this Collection Period $0.00
188 Spread Account Balance net of Draws this Collection Period $1,614,928.75
Delinquency Statistics
189 Number of Accts Delinquent 30 - 59 Days 69
190 Number of Accts Delinquent 60 - 89 Days 3
191 Number of Accts Deliquent 90 Days and Over 0
192 Total Number of Delinquent Accounts 30 Days and Over 72
193 Aggregate Net Outstanding Balance of Delinquent Loans 30-59 days $876,635
194 Aggregate Net Outstanding Balance of Delinquent Loans 60 - 89 days $49,033
195 Aggregate Net Outstanding Balance of Delinquent Loans 90 days and over $0
196 Total Aggregate Net Outstanding Balance of Delinquent Loans $925,667
197 Policy Claim Amount $0.00
198 Deposit Coverage Amount $9,000,000.00
Repossession Statistics
199 Number of Accounts in Repo Inventory @ Beginning of Collection Period 0
200 Number of Accounts Repossessed During Collection Period 9
201 Number of Repo'd Accounts Sold or Reinstated During Collection Period 1
202 Number of Accounts in Repo Inventory @ End of Collection Period 8
203 Aggregate Net Outstanding Balance of Accounts in Repo Inventory $0.00
204 Aggregate Net Outstanding Balance of Accounts Repossessed 102,429.24
205 Aggregate Net Outstanding Balance of Repo Accounts Sold or Reinstated 15,513.08
206 Aggregate Net Outstanding Balance of Accounts in Repo Inventory $86,916.16
Accounts Outstanding Statistics
207 Original Accounts Outstanding - Initial + Subsequent 29,495
207a Original Accounts Outstanding 0
208 Remaining Number of Accounts Outstanding 29,120
Calculation of Net Yield
209 Interest Collected on Contracts 3,419,558.45
210 Interest Collected on Contracts 0.00
211 Interest Collected on Contracts 0.00
212 Liquidated Contract Balances 4,368.84
213 Liquidated Contract Balances 0.00
214 Liquidated Contract Balances 0.00
215 Interest Paid to Securityholders 1,509,032.63
216 Interest Paid to Securityholders 0.00
217 Interest Paid to Securityholders 0.00
218 Servicing Fees Paid to Servicer $203,103.23
219 Servicing Fees Paid to Servicer $0.00
220 Servicing Fees Paid to Servicer $0.00
221 Ending Pool Balance $349,072,062.89
222 Ending Pool Balance - Prior Collection Period $0.00
223 Ending Pool Balance - Two Collection Periods Ago $0.00
224 Net Yield 5.85%
A.P.R. Statistics
225 Original Dollar Weighted A.P.R. of Initial + Subsequent Contracts only 15.27%
225a Original Dollar Weighted A.P.R. of Prefunded Contracts only N/A
226 Dollar Weighted A.P.R. of Remaining Contracts in Trust 15.29%
Credit Loss Statistics
227 Gross Credit Losses during Collection Period $4,368.84
228 Recoveries during Collection Period 0.00
229 Net Credit Losses during Collection Period $4,368.84
230 Cumulative Net Credit Losses $4,368.84
231 Cumulative Net Credit Losses as a Percent of Original Certificate Balance 0.00%
232 Memo: Cram Down Losses $0.00
233 Remaining Weighted Average Maturity 56.1
Calculation of Remaining Prefunded Amount
234 Prefunded Amount at Beginning of Collection Period $92,572,240.33
235 Prefunded Contracts sold to Trust during related Collection Period $0.00
236 Prepayment Amount Released to Collection Account $0.00
237 Remaining Prefunded Amount $92,572,240.33
Calculation of Capitalized Interest Amount
238 Portions of interest allocable to Prefunded Acct balance $310,432.29
239 Portions of Insurance Premium allocable to Prefunded Acct balance $18,128.73
240 Earnings on investment of funds in Prefunding Account $0.00
241 Capitalized Interest Amount $328,561.02
Calculation of Maximum Capitalized Interest Amount
242 Portions of Interest allocable to Prefunded acct $1,620,998.25
243 Portions of Insurance Premium allocable to Prefunded Acct balance $43,093.69
244 Earnings to be received on investment of Prefunded Amount $583,331.93
245 Maximum Capitalized Interest Amount $1,080,760.02
Calculation of Capitalized Interest Account Balance
246 Initial Capitalized Interest Amount $1,345,600.00
247 Withdrawals from Capitalized Interest Account in Current Collection Period $328,561.02
248 Withdrawals from Capitalized Interest Account in Prior Collection Periods $0.00
249 Earnings on Capitalized Interest Account this Collection Period $470.21
250 Earnings on Capitalized Interest Account in Prior Collection Periods $0.00
251 Capitalized Interest Account Balance $1,017,509.19
Calculation of Funds to be Released from Capitalized Interest Acct
252 Capitalized Interest Account Balance $1,017,509.19
253 Maximum Capitalized Interest Amount $1,080,760.02
254 Release to Seller $0.00
I certify that the computations reflected above for the collection period ended are accurate and
have been prepared in accordance with the Sales and Servicing Agreement dated April 1, 2000.
By : ______________________________________ Date: _______________
Name: Don Duffy
Title: Executive Vice President
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