3 1 p64417e3.txt FORM 3 1 FORM 3 OMB APPROVAL OMB Number: 3235-0104 Expires: December 31, 2001 Estimated average burden hours per response 0.5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 (Print or Type Responses) ________________________________________________________________________________ 1. Name and Address of Reporting Person* ERNEST C. GARCIA II -------------------------------------------------------------------------------- (Last) (First) (Middle) 2575 E. CAMELBACK ROAD, SUITE 700 -------------------------------------------------------------------------------- (Street) PHOENIX ARIZONA 85016 -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Date of Event Requiring Statement (Month/Day/Year) 12/29/00 ________________________________________________________________________________ 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) ________________________________________________________________________________ 4. Issuer Name and Ticker or Trading Symbol NATIONAL AUTO CREDIT, INC. (NAKD) ________________________________________________________________________________ 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) [X(1)] Director [ X ] 10% Owner [ ] Officer (give title below) [X(1)] Other (specify below) ________________________________________________________________________________ 6. If Amendment, Date of Original (Month/Day/Year) ________________________________________________________________________________ 7. Individual or Joint/Group Filing (Check Applicable Line) [ ] Form filed by One Reporting Person [X] Form filed by More than One Reporting Person ================================================================================ Table I -- Non-Derivative Securities Beneficially Owned ================================================================================

Page 1 of 9 pages 2 COMMON STOCK (12) 6,770 D ------------------------------------------------------------------------------------------------------------------------------------ COMMON STOCK (13) 8,130 D ------------------------------------------------------------------------------------------------------------------------------------ COMMON STOCK (14) 5,420 D ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (2) 65,614 I BY VERDE REINSURANCE COMPANY, LTD. ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (3) 1,463,150 D ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (4) 65,614 D ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (5) 65,614 D ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (6) 54,679 D ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (7) 36,452 D ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (8) 21,871 D ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (9) 14,581 D ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (10) 3,645 D ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (11) 6,670 D ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (12) 6,670 D ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (13) 8,130 D ------------------------------------------------------------------------------------------------------------------------------------ SERIES C PREFERRED STOCK (14) 5,420 D ====================================================================================================================================

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over) Please see the footnotes on page 4 of this Form. * If the Form is filed by more than one reporting person, see Instruction 5(b)(v). SEC 1473 (2-99) Page 2 of 9 pages 3 FORM 3 (continued) Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================

Explanation of Responses: See footnotes on page 4 of this form. /s/ ERNEST C. GARCIA II 1/8/01 --------------------------------------------- ----------------------- **Signature of Reporting Person Date ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a) Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a current valid OMB Number. Page 2SEC 1473 (2-99) Page 3 of 9 pages SEC 1473 (2-99) 4 (1) Mr. Garcia may be deemed a member of a Section 13(d) "group" that owns more than 10% of the issuer's outstanding common stock together with Ernest C. Garcia II, the Ernie Garcia III 2000 Trust, the Brian Garcia 2000 Trust, Ray Fidel, Steven P. Johnson, Mark Sauder, the EJMS Investors Limited Partnership, Colin Bachinsky, Chris Rompalo, Donna Clawson, Mary Reiner, and Kathy Chacon. Steven P. Johnson is expected to become a director of National Auto Credit, Inc. (2) These securities are owned indirectly by Ernest C. Garcia as the sole shareholder of Verde Reinsurance Company, Ltd. (3) These securities are owned solely by Ernest C. Garcia II. (4) These securities are owned solely by the Ernest Garcia III 2000 Trust (5) These securities are owned solely by the Brian Garcia 2000 Trust. (6) These securities are owned solely by Ray Fidel. (7) These securities are owned solely by Steven P. Johnson. (8) These securities are owned solely by Mark Sauder. (9) These securities are owned solely by the EJMS Investors Limited Partnership. (10) These securities are owned solely by Colin Bachinsky. (11) These securities are owned solely by Chris Rompalo. (12) These securities are owned solely by Donna Clawson. (13) These securities are owned solely by Mary Reiner. (14) These securities are owned solely by Kathy Chacon. Page 4 of 9 pages 5 JOINT FILER INFORMATION Name: Verde Reinsurance Company, Ltd. Address: 2575 East Camelback Road, Suite 700 Phoenix, Arizona 85016 Designated Filer: Ernest C. Garcia II Issuer & Ticker Symbol: National Auto Credit, Inc. (NAKD) Date of Event Requiring Statement: December 29, 2000 Signature: /s/ ERNEST C. GARCIA II ----------------------------- Name: ERNEST C. GARCIA II ----------------------------- Its: Managing Director ----------------------------- Name: Ernest Garcia III 2000 Trust Address: 2575 E. Camelback Road, Suite 700 Phoenix, Arizona 85016 Designated Filer: Ernest C. Garcia II Issuer & Ticker Symbol: National Auto Credit, Inc. (NAKD) Date of Event Requiring Statement: December 29, 2000 Signature: /s/ STEVEN P. JOHNSON ----------------------------- Name: Steven P. Johnson Its: Trustee Page 5 of 9 pages 6 Name: Brian Garcia 2000 Trust Address: 2575 E. Camelback Road, Suite 700 Phoenix, Arizona 85016 Designated Filer: Ernest C. Garcia II Issuer & Ticker Symbol: National Auto Credit, Inc. (NAKD) Date of Event Requiring Statement: December 29, 2000 Signature: /s/ STEVEN P. JOHNSON ---------------------------------- Name: Steven P. Johnson Its: Trustee Name: Ray Fidel Address: 3010 E. Camelback Road, Suite 100 Phoenix, Arizona 85016 Designated Filer: Ernest C. Garcia II Issuer & Ticker Symbol: National Auto Credit, Inc. (NAKD) Date of Event Requiring Statement: December 29, 2000 Signature: /s/ RAY FIDEL ---------------------------------- Name: Steven P. Johnson Address: 2575 E. Camelback Road, Suite 700 Phoenix, Arizona 85016 Designated Filer: Ernest C. Garcia II Issuer & Ticker Symbol: National Auto Credit, Inc. (NAKD) Date of Event Requiring Statement: December 29, 2000 Signature: /s/ STEVEN P. JOHNSON ---------------------------------- Page 6 of 9 pages 7 Name: Mark Sauder Address: 3010 E. Camelback Road, Suite 100 Phoenix, Arizona 85016 Designated Filer: Ernest C. Garcia II Issuer & Ticker Symbol: National Auto Credit, Inc. (NAKD) Date of Event Requiring Statement: December 29, 2000 Signature: /s/ MARK SAUDER ---------------------------------- Name: EJMS Investors Limited Partnership Address: 3010 E. Camelback Road, Suite 100 Phoenix, Arizona 85016 Designated Filer: Ernest C. Garcia II Issuer & Ticker Symbol: National Auto Credit, Inc. (NAKD) Date of Event Requiring Statement: December 29, 2000 Signature: /s/ ERIC SPLAVER ---------------------------------- By: ERIC SPLAVER --------------------------- Its: PARTNER --------------------------- Name: Colin Bachinsky Address: 3010 E. Camelback Road, Suite 100 Phoenix, Arizona 85016 Designated Filer: Ernest C. Garcia II Issuer & Ticker Symbol: National Auto Credit, Inc. (NAKD) Date of Event Requiring Statement: December 29, 2000 Signature: /s/ COLIN BACHINSKY ---------------------------------- Page 7 of 9 pages 8 Name: Chris Rompalo Address: 3010 E. Camelback Road, Suite 100 Phoenix, Arizona 85016 Designated Filer: Ernest C. Garcia II Issuer & Ticker Symbol: National Auto Credit, Inc. (NAKD) Date of Event Requiring Statement: December 29, 2000 Signature: /s/ CHRIS ROMPALO ---------------------------------- Name: Donna Clawson Address: 3010 E. Camelback Road, Suite 100 Phoenix, Arizona 85016 Designated Filer: Ernest C. Garcia II Issuer & Ticker Symbol: National Auto Credit, Inc. (NAKD) Date of Event Requiring Statement: December 29, 2000 Signature: /s/ DONNA CLAWSON ---------------------------------- Name: Mary Reiner Address: 2575 E. Camelback Road, Suite 700 Phoenix, Arizona 85016 Designated Filer: Ernest C. Garcia II Issuer & Ticker Symbol: National Auto Credit, Inc. (NAKD) Date of Event Requiring Statement: December 29, 2000 Signature: /s/ MARY REINER ---------------------------------- Page 8 of 9 pages 9 Name: Kathy Chacon Address: 2575 E. Camelback Road, Suite 700 Phoenix, Arizona 85016 Designated Filer: Ernest C. Garcia II Issuer & Ticker Symbol: National Auto Credit, Inc. (NAKD) Date of Event Requiring Statement: December 29, 2000 Signature: /s/ KATHY CHACON ---------------------------------- Page 9 of 9 pages

NATIONAL AUTO CREDIT INC 3