ASF analysis - $(000)

Capital Factor (bp)

After applying "regulatory tax" factor of 1.20 (bp)

Capital as a % of Owned Outs. (bp)

Total Managed Portfolio

$ 531,718

NET losses Jan-May, 1998

$ 21,462

Annualized Loss rate

9.69%

922

3,806

Aggregate of Securitization pools

Outstandings at 1/31/98

$ 441,101

NET losses Jan-May, 1998

$ 17,772

Annualized Loss rate

9.67%

Aggregate of Owned portfolio

Outstandings at 1/31/98

$ 90,617

NET losses Jan-May, 1998

$ 3,690

Annualized Loss rate

9.77%

* based on 5/98 outstandings: Total $517.2MM, Securitization pools $366.9MM, and Owned $150.3MM.

MONOLINE ANALYSIS OF EQUITY ALLOCATION ($000)

AMERICREDIT
3/31/98

ARCADIA
FINANCIAL
3/31/98

CONSUMER
PORTFOLIO
3/31/98

ONYX
ACCEPTANCE
3/31/98

WFS
FINANCIAL
3/31/98

Total Assets

$ 669,594

$ 869,625

$ 298,185

$ 182,123

$ 903,298

Total Liabilities

$ 392,081

$ 516,495

$ 209,476

$ 140,735

$ 736,782

Total Equity

$ 277,513

$ 353,130

$ 88,709

$ 41,388

$ 166,516

Debt to Equity

1.41

1.46

2.36

3.40

4.42

Equity Allocation

41.4%

40.6%

29.7%

22.7%

18.4%

Owned Assets

$ 242,002

$ 21,129

$ 134,700

$ 86,451

$ 284,456

Serviced Assets

$ 1,500,798

$ 5,005,350

$ 935,700

$ 798,249

$ 3,500,000

Total Managed Assets

$ 1,742,800

$ 5,026,479

$ 1,070,400

$ 884,700

$ 3,784,456

Managed to Equity

6.28

14.23

12.07

21.38

22.73

Equity Allocation

13.7%

6.6%

7.7%

4.5%

4.2%