FORM 10-KSB/A
                                 AMENDMENT 1
                   U.S. SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C.  20549

                  ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF
                     THE SECURITIES EXCHANGE ACT OF 1934
                 FOR THE FISCAL YEAR ENDED DECEMBER 31, 1996

     Commission  file  number  0-18819
                            MONACO FINANCE, INC.
                (Name of small business issuer in its charter)
                                                   Colorado     84-1088131
                                (State or other jurisdiction     (IRS Employer
                     of incorporation or organization)     Identification No.)

370  17th  Street,  Suite  5060
                                                Denver, Colorado     80202
                       (Address of principal executive offices)     (Zip Code)

                               Issuer's telephone number:     (303) 592-9411

     SECURITIES  REGISTERED  UNDER  SECTION  12(B)  OF  THE  EXCHANGE  ACT:

Class  A  Common  Stock,  $.01  Par  Value
Title  of  Class

SECURITIES  REGISTERED  UNDER  SECTION  12(G)  OF  THE  EXCHANGE  ACT:

Class  A  Common  Stock,  $.01  Par  Value
Title  of  Class

     Check  whether  the  issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has  been  subject to such filing requirements for the past 90 days.       X
Yes      _____  No

     Check  if  disclosure  of  delinquent  filers  in response to Item 405 of
Regulation  S-B  is  not  contained  in  this  form, and no disclosure will be
contained,  to  the  best  of  Registrant's  knowledge, in definitive proxy or
information  statements  incorporated  by  reference  in Part III of this Form
10-KSB  or  any  amendments  to  this  Form  10-KSB.  [    ]

State  issuer's  revenues  for  its  most  recent  fiscal year.   $13,500,753.

     State  the  aggregate  market  value  of  the  voting  stock  held  by
non-affiliates  (based  on  the average bid and asked prices of such stock) of
the  Registrant:

As  of  February  28,  1997:    Approximately  $11,360,490.

     As  of  February  28, 1997, there were 5,648,379 shares of Class A Common
Stock,  $.01 par  value and 1,323,715 shares of Class B Common Stock, $.01 par
value,  outstanding.

     DOCUMENTS  INCORPORATED  BY  REFERENCE
     Proxy  Statement  for the 1997 Annual Meeting to be filed within 120 days
after  the  fiscal  year  (Part  III).
Transitional  Small  Business  Disclosure  Format:            Yes    No   X
Total  number  of  pages:  3


ITEM  13.  EXHIBITS  AND  REPORTS  ON  FORM  10-KSB/A

     (a)    Exhibits:

The  following  documents are filed as exhibits to this Current Report on Form
10-KSB/A

Exhibit  27  --  Financial  Data  Schedule.


                                  SIGNATURES

     Pursuant  to  the  requirements  of Section 13 or 15(d) of the Securities
Exchange  Act of 1934, the Registrant has duly caused this report to be signed
on  its  behalf  by  the  undersigned,  thereunto  duly  authorized.
          MONACO  FINANCE,  INC.
          (Registrant)

May  8,  1997          By          /s/  Morris  Ginsburg
                                   ---------------------
                            Morris  Ginsburg,  President

     Pursuant to the requirements of the Securities Exchange Act of 1934, this
report  has  been  signed  below  by  the  following  persons on behalf of the
Registrant  and  in  the  capacities  and  on  the  dates  indicated.

May  8,  1997          /s/  Morris  Ginsburg
                       ---------------------
               Morris  Ginsburg,  President,
              Chief  Executive  Officer  and
                                    Director

May  8,  1997          /s/  Irwin  L.  Sandler
                       -----------------------
                            Irwin  L.  Sandler
                   Executive  Vice  President,
                      Secretary/Treasurer  and
                                      Director

May  8,  1997          /s/  Brian  M.  O'Meara
                       -----------------------
                           Brian  M.  O'Meara,
                                      Director

May  8,  1997          /s/  David  M.  Ickovic
                         ---------------------
                           David  M.  Ickovic,
                                      Director

May  8,  1997          /s/  Craig  L.  Caukin
                        ---------------------
                           Craig  L.  Caukin,
                  Executive  Vice  President,
                                     Director

May  8,  1997          /s/  Michael  Feinstein
                         ---------------------
                           Michael  Feinstein,
                      Senior  Vice  President,
                     Chief  Financial  Officer