<PAGE> 1
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: June 8, 1998
(Date of earliest event reported)
ONYX ACCEPTANCE FINANCIAL CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 333-51239 33-0639768
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
8001 Irvine Center Drive
6th Floor
Irvine, California 92618
(Address of Principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (949) 450-5500
<PAGE> 2
Item 5. Other Events.
Reference is hereby made to the Registrant's Registration Statement on
Form S-3 (File No. 333-51239) filed with the Securities and Exchange Commission
(the "Commission") on April 28, 1998 (the "Registration Statement"), pursuant to
which the Registrant registered $1,000,000,000 aggregate principal amount of its
auto loan backed notes and auto loan backed certificates, issuable in various
series, for sale in accordance with the provisions of the Securities Act of
1933, as amended (the "Act"). Reference is also hereby made to the Prospectus
and the related Prospectus Supplement (collectively, the "Prospectus"), which
will be filed with the Commission pursuant to Rule 424(b), with respect to the
Registrant's Auto Loan Backed Notes and Auto Loan Backed Certificates, Series
1998-A (the "Offered Securities").
The Registrant is filing this Current Report on Form 8-K to file the
Consent of Independent Accountants to the inclusion in the Prospectus of the
accountant's report dated February 3, 1998 in the audit of the consolidated
financial statements of MBIA Insurance Corporation and Subsidiaries. The Consent
of Independent Accountants is set forth in Exhibit 23.3 hereto.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit No. Description
----------- -----------
23.3 Consent of Independent Accountants
-2-
<PAGE> 3
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 hereunto duly authorized.
ONYX ACCEPTANCE FINANCIAL
CORPORATION
June 8, 1998 By: /s/ Regan E. Kelly
-------------------------------
Regan E. Kelly,
Executive Vice President
-3-
<PAGE> 1
EXHIBIT 23.3
Consent of Independent Accountants
We consent to the incorporation by reference in the Prospectus Supplement of
Onyx Acceptance Owner Trust 1998-A, of our report dated February 3, 1998, on our
audits of the consolidated financial statements of MBIA Insurance Corporation
and Subsidiaries as of December 31, 1997 and 1996 and for each of the three
years in the period ended December 31, 1997. We also consent to the reference to
our firm under the caption "Experts".
/s/ Coopers & Lybrand L.L.P.
Coopers & Lybrand L.L.P.
New York, New York
June 5, 1998
