American Acceptance Group

AAG is an independent purchaser, servicer and seller of automobile installment sales contracts. The contracts to be purchased by AAG will represent extensions of credit to borrowers who would generally not qualify for the financing from traditional automobile financing sources. These borrowers typically have lower incomes, limited credit histories or past credit problems which preclude their financing of automobile purchases through any "primary" financing sources such as: Captives, Banks and Credit Unions.

Loan Programs have the following parameters:

                                      High                Low                 Average

Amount Financed         $25,000           $6,500             $17,000

Rates                           22.90%            12.90%            17.90%

Term (months)            72                    48                    60

FICO Score                 >600                500                  550

LTV Ratio                   150%               <100%            119%

PTI Ratio                    20%                 <10%              13%

Vehicle Mileage         100,000               New                 26,000

The AAG loan program is built on the premise that, by our properly structuring the transaction and by performing a thorough evaluation of the credit bureau report of each potential borrower, many special finance borrowers can be financed by AAG. The AAG program allows its approved dealers to expand their dealer sales base of potential purchasers and allows borrowers to purchase a much higher quality vehicle than would otherwise be possible. This is accomplished by making good credit decisions at the time the installment contract is purchased and by our maintaining effective collection operations.