<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 11)(1)
National Auto Credit, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock $.05 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
6329000 10 6
- --------------------------------------------------------------------------------
(CUSIP Number)
----------
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filing person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the clause
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
- --------
(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 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject it all other provisions of the Act (however, see
the Notes).
(Continued on the following pages(s))
<PAGE> 2
CUSIP No. 632900-10-6 PAGE 2 of 4 PAGES
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sam J. Frankino
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* a. [ ]
b. [ ]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
NUMBER OF 5. SOLE VOTING POWER
SHARES 14,132,560
BENEFICIALLY
6. SHARED VOTING POWER*Mr Frankino along with other
trustees, has both voting and investment
power with respect 686,452 shares held
by the Samuel J. and Connie M. Frankino
Charitable Foundation, and to 1,000,000
shares held by the Corrine L. Dodero
Trust for the Arts & Sciences, both of
which are qualified charitable
organizations. Mr. Frankino disclaims
any beneficial interest in these shares
OWNED BY
EACH
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 15,819,012
WITH
8. SHARED DISPOSITIVE POWER
-0-
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,819,012
10. CHECK BOX IF THE AGGREGATED AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
11. PERCENT OF CLASS PRESENTED BY AMOUNT IN ROW (9)
55.4%
12. TYPE OF REPORTING PERSON*
IN
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
PAGE 3 OF 4 PAGES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 11)
ITEM 1 (A). NAME OF ISSUER:
National Auto Credit, Inc.
ITEM 1 (B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
30000 Aurora Road
Solon, OH 44139
ITEM 2 (A). NAME OF PERSON FILING:
Sam J. Frankino
ITEM 2 (B). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
National Auto Credit, Inc.
30000 Aurora Road
Solon, OH 44139
ITEM 2 (C). CITIZENSHIP:
U.S.A.
ITEM 2 (D). TITLE OF CLASS OF SECURITIES:
Common Stock, $.05 par value
ITEM 2 (E). CUSIP NUMBER:
632900 10 6
ITEM 3. THIS ITEM IS NOT APPLICABLE.
ITEM 4. OWNERSHIP:
(a) Amount Beneficially Owned: 15,819,012 shares
National Auto Credit, Inc. common stock,
$.05 par value
(b) Percent of Class 55.4%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the
vote: 14,132,560
(ii) Shared power to vote or direct the vote: 1,686,452
(iii) Sole power to dispose or to direct the
disposition of 15,819,012 shares
(iv) Shared power to dispose or to direct
the disposition of -0-
<PAGE> 4
PAGE 4 of 4 PAGES
ITEM 5. THIS ITEM IS NOT APPLICABLE.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
There is no other person who has the right to receive or the
power to direct the receipt of dividends from, or the proceeds
from the sale of such securities.
ITEM 7. THIS ITEM IS NOT APPLICABLE.
ITEM 8. THIS ITEM IS NOT APPLICABLE.
ITEM 9. THIS ITEM IS NOT APPLICABLE.
ITEM 10. THIS ITEM IS NOT APPLICABLE.
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.
February 16, 1998
- -------------------------------
/s/ Sam J. Frankino
- -------------------------------
Signature
Sam J. Frankino, Chairman of the Board
- --------------------------------------
Name/Title
