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Onyx Acceptance Prices $450 Million in Asset Backed Notes

28 April 2000

Onyx Acceptance Prices $450 Million in Asset Backed Notes

    FOOTHILL RANCH, Calif., April 28 Onyx Acceptance
Corporation (Nasdaq: ONYX) announced the pricing of a $450 million offering of
automobile receivables-backed notes through Merrill Lynch & Company, Chase
Securities Inc. and Salomon Smith Barney.

    The notes will be issued through an owner trust, Onyx Acceptance Owner
Trust 2000-B, as follows:

                Principal        Average
    Class       Amount         Life (years)  Coupon       Price        Yield

    A-1      $ 77,800,000         0.30      6.4125%    1.0000000      6.413%
    A-2       120,000,000         1.00        7.02%    0.9999782      7.022%
    A-3       131,000,000         2.00        7.29%    0.9999951      7.290%
    A-4        94,200,000         3.19        7.38%    0.9998758      7.384%
    B          27,000,000         4.22        7.56%    0.9997248      7.568%
            $ 450,000,000

    Each class will be rated AAA and Aaa, respectively, by Standard and Poor's
Ratings Services, 'a division of The McGraw-Hill Companies, Inc., and Moody's
Investors Service, Inc.  The ratings will be based substantially on the
issuance of a financial guaranty insurance policy issued by MBIA Insurance
Corporation.
    The transaction will be Onyx Acceptance's twentieth securitization of
automobile receivables.  It will bring the total of automobile
receivables-backed securities issued by the Company to more than
$4.25 billion.

    Onyx Acceptance Corporation is a specialized finance company based in
Foothill Ranch, CA.  Onyx provides financing to franchised and select
independent automobile dealers throughout the United States.