National Auto Credit Establishes Relationship With Buyer's Choice's, Inc.

5 August 1998

    SOLON, Ohio, Aug. 5 -- National Auto Credit, Inc.
(OTC BULLETIN BOARD: NAKD) (NAC) and Buyer's Choice, Inc., today announced a
new agreement that will allow NAC's more than 2,500 member dealers to begin
offering The Buyer's Choice Product Warranty to consumers financing vehicle
purchases with the sub-prime lender.
    The consumer warranty program allows NAC's customers the ability to
finance a basic standard warranty plan covering major components of their
vehicle for one or two year periods.
    The agreement also establishes a joint marketing and sales effort as more
than 100 Buyer's Choice sales representatives will offer the NAC financing
program to their nationwide network of approximately 10,000 dealers.
    Buyer's Choice, established in 1990 with corporate headquarters in
Norwell, Massachusetts, is a leader in the extended warranty industry.
"Buyer's Choice is a premier warranty provider and our combined member
networks mean this program will be available to consumers and dealers
nationwide immediately," said Tom Osco, Vice President of National Auto
Credit.
    "We are very excited about working with NAC in offering warranties which
complement their new financing initiatives," said Richard McCabe, President of
Buyer's Choice, Inc.  "This agreement is another demonstration of NAC's
commitment to offer value to their dealer network and consumers."
    National Auto Credit is a specialized financial services company which
provides funding, receivables management and collection services to automobile
dealers who sell and finance the purchase of vehicles to retail customers who
have limited or no access to consumer credit.
    The statements contained in this release that are not purely historical
are forward looking statements within the meaning of the Securities and
Exchange Act of 1934.  Among the factors that could cause actual results to
differ materially from the forward looking statements are the potential for
greater than anticipated non-performing contracts, the potential for lower
than anticipated recoverability of amounts advanced to the Company's member
dealers, availability of funds under the Company's financing arrangements, and
other factors as discussed in the Company's reports filed with the Securities
and Exchange Commission.