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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: February 18, 1999
(Date of earliest event reported)
ONYX ACCEPTANCE FINANCIAL CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 333-71045 33-0639768
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
27051 Towne Centre Drive, Suite 200
Foothill Ranch, California 92610
(Address of Principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (949) 465-3500
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Item 5. Other Events.
Reference is hereby made to the Registrant's Registration Statement
on Form S-3 (File No. 333-71045) filed with the Securities and Exchange
Commission (the "Commission") on January 22, 1999, and Amendment No. 1 thereto
filed with the Commission on February 12, 1999 (as amended, the "Registration
Statement"), pursuant to which the Registrant registered $1,500,000,000
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. 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)(5), with respect to the Registrant's Auto Loan Backed Notes and Auto Loan
Backed Certificates, Series 1999-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 23.1 hereto.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
<TABLE>
<CAPTION>
Exhibit No. Description
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<C> <S>
23.1 Consent of Independent Accountants
</TABLE>
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Signatures
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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
February 18, 1999 By: /s/ Don P. Duffy
--------------------------------
Don P. Duffy,
Executive Vice President and
Chief Financial Officer
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit
Number Description
- ------ -----------
<C> <S>
23.1 Consent of Independent Accountants
</TABLE>
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EXHIBIT 23.1
[PRICEWATERHOUSECOOPERS LETTERHEAD]
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the Prospectus Supplement of
Onyx Acceptance Financial Corporation relating to Onyx Acceptance Owner Trust
1999-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/ PricewaterhouseCoopers LLP
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PricewaterhouseCoopers LLP
February 18, 1999
