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Synopsis of Smart Choice Automotive Group, Inc. Presentation

19 November 1998

Synopsis of Smart Choice Automotive Group, Inc. Presentation at Southeast Research Partners Seventh Annual Institutional Investors Conference

    FORT LAUDERDALE, Fla., Nov. 18 -- Following is a synopsis of
the presentation made today by Smart Choice Automotive Group, Inc.,
Titusville, Florida, at the Southeast Research Partners Seventh Annual
Institutional Investors Conference at the Hyatt Regency Pier 66, Fort
Lauderdale.

    Smart Choice Automotive Group, Inc. currently operates 22 stores in
Florida that sell used cars under the "First Choice" brand name. The Company's
First Choice cars are three to six years old, have less than 80,000 miles and
have undergone thorough inspection, reconditioning and, as necessary, repair.
The Company also sells used cars that may not meet the First Choice criteria
through four additional stores in Florida that operate under the "Team" brand
name. Through its finance company subsidiary, the Company (referred to herein
as a "self-financed" retailer of used cars) provides financing for its
customers by originating retail automobile installment sales contracts secured
by the cars it sells ("finance receivables" or "finance contracts"). The
Company's customers typically have limited credit histories, low incomes
and/or past credit problems. The Company intends to expand primarily by
opening additional used car stores in Florida and extending its operations
into other areas of the southeastern United States. The Company's objective is
to become the leading self-financed retailer of used cars in the southeastern
United States.
    Retail sales of new and used cars in the United States totaled
approximately $673 billion in 1997. Used cars represented approximately 75% of
cars sold in the United States and 55% of total sales in 1997, with
approximately 41 million used cars sold at an average price of $9,029 per
unit.  Retail sales of used cars in Florida in 1997 totaled more than
$24.4 billion (over 2 million vehicles). Approximately 36% of Florida's used
car sales in 1997 (not including sales of used cars at new car dealerships)
occurred at approximately 2,800 self-financed used car stores.
    Smart Choice believes that the quality and reliability of the Company's
First Choice cars (i) reduce the probability of product failure (which
management believes is a leading cause of defaults on finance contracts in the
Company's industry), (ii) reduce losses on the Company's repossessions of cars
and (iii) define the First Choice brand. Due to the quality and reliability of
its First Choice cars, the Company is able to provide a 24 month/24,000 mile
service contract to its customers, which is underwritten by a third party. The
Company sells used cars at its First Choice stores for an average retail price
of approximately $9,500, including the service contract on all cars sold. The
Company's Team stores generally sell older and higher mileage cars than First
Choice cars. Team cars, which sell for an average retail price of
approximately $7,900, are primarily cars that have been repossessed by the
Company, have been traded in by customers or have not been sold at the First
Choice stores within approximately 180 days. Cars sold at Team stores are
covered by a 12 month/12,000 mile service contract.
    The Company also manufactures and sells Corvette parts and accessories
through its subsidiary Eckler Industries, Inc. ("Eckler's"), owns two new car
dealerships in Florida and provides insurance products and services through
its Easy Pay Insurance subsidiary.