Onyx Acceptance Corporation and its wholly owned subsidiaries operate as a specialized automobile finance company in the United States. The company purchases, securitizes, and services motor vehicle retail installment contracts originated by franchised and select independent automobile dealerships. It acquires contracts that are collateralized by late model used and new automobiles. Onyx Acceptance provides an independent source to automobile dealers to finance their customers’ purchases of new and used vehicles. The company’s markets include automotive manufacturers, banks, savings associations, independent finance companies, credit unions, and leasing companies. As of September 30, 2004, it had relationships with approximately 13,000 dealerships and conducted its operations through 19 auto finance centers and 1 centralized buying center. The company was founded in 1993 and is headquartered in Foothill Ranch, California. As of JAnuary 11, 2005, Onyx Acceptance Corporation is a subsidiary of Capital One Auto Finance, Inc.