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Smart Choice Automotive Group Announces Expansion

16 November 1998

Smart Choice Automotive Group Announces Expansion in FINOVA Credit Facility to $100 Million

    TITUSVILLE, Fla., Nov. 16 -- Smart Choice Automotive Group,
Inc. , a leading consolidator within the 'dealer-financed' used
car retailing industry in the Southeastern United States, today announced that
FINOVA Capital Corporation, a subsidiary of FINOVA Group, Inc. ,
has expanded the size of the Company's credit line to $100 million, from the
previous limit of $75 million.  The credit facility is secured by the
receivables portfolio of the Company's Florida Finance Group subsidiary.
    Headquartered in Phoenix, Arizona, FINOVA Group, Inc. is a financial
services holding company which provides a broad range of financing and capital
market products to mid-sized businesses.
    "We believe this increased commitment by FINOVA will enhance our ability
to finance customer purchases of used cars from our network of Florida
stores," commented Gary Smith, president and chief executive officer of Smart
Choice Automotive Group, Inc.  "FINOVA has almost tripled the size of our
credit facility, from $35 million to $100 million, since the beginning of
1998.  We anticipate that the increased credit will help Smart Choice gain
additional market share in an industry where liquidity has become extremely
tight in recent months."
    Smart Choice Automotive Group, Inc. operates a network of 26 used and 2
new car stores in Florida.  The Company underwrites, finances and services
retail installment contracts generated from the sale of used cars by its
stores.  Its Eckler's subsidiary is one of the world's largest aftermarket
suppliers of Corvette parts and accessories.  The Company also provides
training and insurance services to automobile dealerships throughout the
United States.
    Smart Choice Automotive Group, Inc. is headquartered in Titusville,
Florida and its common stock trades on Nasdaq under the symbol "SMCH".
    This press release includes statements that may constitute
"forward-looking" statements, usually containing the words "believe,"
"estimate," "project," "expect" or similar expressions.  These statements are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.  Forward-looking statements inherently involve
risks and uncertainties that could cause actual results to differ materially
from the forward-looking statements.  Factors that would cause or contribute
to such differences include, but are not limited to, continued acceptance of
the Company's products in the marketplace, competitive factors, receivables
portfolio risks, dependence upon third-party vendors, and other risks detailed
in the Company's Registration Statement on Form S-1 (file no. 333-59375) and
periodic report filings with the Securities and Exchange Commission.  By
making these forward-looking statements, the Company undertakes no obligation
to update these statements for revisions or changes after the date of this
release.