ONYX ACCEPTANCE FINANCIAL CORP
8-K, 2000-07-24
ASSET-BACKED SECURITIES
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<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: July 20, 2000
                        (Date of earliest event reported)


                      ONYX ACCEPTANCE FINANCIAL CORPORATION
             (Exact name of Registrant as specified in its charter)


        Delaware                    333-92245                    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

<PAGE>   2

Item 5.  Other Events.

         Reference is hereby made to the Registrant's Registration Statement on
Form S-3 (File No. 333-92245) filed with the Securities and Exchange Commission
(the "Commission") on December 7, 1999, Amendment No. 1 thereto filed with the
Commission on January 18, 2000 and Amendment No. 2 thereto filed with the
Commission on February 10, 2000 (as amended, the "Registration Statement"),
pursuant to which the Registrant registered $2,000,000,000 aggregate principal
amount of its auto loan backed notes and auto loan backed certficates, 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 (the "Prospectus Supplement"), which will be filed
with the Commission pursuant to Rule 424(b)(5), with respect to the Registrant's
Auto Loan Backed Notes, Series 2000-C (the "Offered Notes").

         The Registrant is filing this Current Report on Form 8-K to file the
Consent of Independent Accountants to the incorporation by reference in the
Prospectus Supplement of the accountants' report dated February 3, 2000 on the
audits 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



July 24, 2000                          By: /s/ Don P. Duffy
                                          -----------------
                                          Don P. Duffy,
                                          Executive Vice President and
                                          Chief Financial Officer



                                       -3-
<PAGE>   4

                                 EXHIBIT INDEX

Exhibit No.       Description
-----------       -----------

    23.3          Consent of Independent Accountants





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