<PAGE>

                                                                  EXECUTION COPY



                                   FOURTH AMENDMENT
                                     AND CONSENT
                                     RELATING TO
                               ASSET PURCHASE AGREEMENT
                    Olympic Automobile Receivables Warehouse Trust
                                Variable Funding Notes



          THIS FOURTH AMENDMENT AND CONSENT dated as of May 30, 1997 (the
"FOURTH AMENDMENT") Relating to the ASSET PURCHASE AGREEMENT, dated as of
December 28, 1995 and amended as of June 12, 1996, December 20, 1996 and January
17, 1997 (the "AGREEMENT") among Morgan Guaranty Trust Company of New York
(successor to J.P. Morgan Delaware), as administrative agent (the "AGENT") and
each of the parties (collectively, the "APA PURCHASERS") who has (i) executed a
signature page to the Agreement or (ii) executed an Assignment of Purchase
Commitment, is by and among the parties listed above.  Capitalized terms used in
this Fourth Amendment and not otherwise defined shall have the meanings assigned
to such terms in the Agreement.

                                       RECITALS

          WHEREAS, the Agent and the APA Purchasers desire to amend the
Agreement to extend each APA Purchaser's Purchase Termination Date and the
Expiry Date; and

          WHEREAS, the APA Purchasers also desire to amend the definition of
"Purchase Price" contained in Section 2(c) of the Agreement; and

          WHEREAS, in a Second Amendment and Consent relating to the Note
Purchase Agreement dated the date hereof, the parties thereto have agreed to
amend the Note Purchase Termination Event contained in Section 2.08(g) of the
Note Purchase Agreement; and

          WHEREAS, in accordance with the provisions of Section 13(l) of the
Agreement, Delaware Funding Corporation and Arcadia Financial Ltd. (formerly
Olympic Financial Ltd.) ("OFL") are willing to consent to this Fourth Amendment
upon the terms provided for herein; and

          WHEREAS, pursuant to Section 7(b) of the Agreement, the Agent is
required to obtain the consent of the Majority Purchasers before consenting to
amendments to the Note Purchase Termination Event in Section 2.08(g) of the Note
Purchase Agreement and to the Sale and Servicing Agreement.


<PAGE>

          NOW THEREFORE, in consideration of the premises and the agreements
contained herein, the parties hereto agree as follows:

          SECTION 1.  EXTENSION OF PURCHASE TERMINATION DATE; AMENDED SIGNATURE
PAGES.  The APA Purchasers who execute the attached signature pages hereby
consent to either (i) in the case of an APA Purchaser who notified the Agent on
or before May 27, 1997 of its determination to terminate its Purchase Commitment
on June 30, 1997, the Purchase Termination Date for such APA Purchaser being
June 30, 1997 as specified on the appropriate signature page, and (ii) in the
case of an APA Purchaser who did not so notify the Agent, the extension of the
optional termination date provision of such APA Purchaser's Purchase Termination
Date to the date specified on the appropriate signature page.  The signature
pages attached to this Fourth Amendment as Exhibit A shall supersede the
signature pages to the Agreement dated January 17, 1997, and from and after the
date of this Fourth Amendment all references to the signature pages of the
Agreement shall refer to the signature pages attached as Exhibit A to this
Fourth Amendment.

          SECTION 2.  EXTENSION AND AMENDMENT OF THE "EXPIRY DATE."  The
definition of "Expiry Date" in the last paragraph of Section 13(i) of the
Agreement is hereby amended to read as follows:

          For purposes of this Asset Purchase Agreement, "EXPIRY DATE" shall
     mean, for each APA Purchaser (other than those APA Purchasers who notified
     the Agent on or before May 27, 1997 of their determination to terminate
     their Purchase Commitments on June 30, 1997), the earlier of (i) December
     19, 1997 or (ii) August 29, 1997, but only if either (a) such APA Purchaser
     determines, in its sole and absolute discretion, to terminate its Purchase
     Commitment hereunder and so notifies the Agent and OFL in writing on or
     before July 31, 1997 or (b) DFC terminates its Purchase Commitment under
     the Note Purchase Agreement,

          SECTION 3.  AMENDMENT OF PURCHASE PRICE.  In accordance with the
provisions of Section 13(1) of the Agreement, the parties, with the consent of
OFL, desire to amend the "Purchase Price" as defined in the last sentence of the
first paragraph of Section 2(c) of the Agreement by deleting at the end of such
paragraph "9%" and replacing it with "12%".

          SECTION 4.  CONSENT TO AMENDMENTS TO OTHER AGREEMENTS.  In accordance
with the provisions of Section 7(b) of the Agreement, all of the Purchasers who
execute the attached signature pages hereby consent to (i) Second Amendment and
Consent Relating to Note Purchase Agreement and (ii) Amendment No. 4 to Sale and
Servicing Agreement, each dated the hereof, substantially in the forms attached
to this Fourth Amendment as Exhibits B and C.


                                          2

<PAGE>

          SECTION 5.  EFFECTIVENESS.  The amendments provided for by this Fourth
Amendment shall become effective as of May 30, 1997, upon receipt by the Agent
of (i) counterparts of this Fourth Amendment, duly executed by each of the
parties hereto, (ii) notice that the conditions to effectiveness of the Second
Amendment and Consent Relating to Note Purchase Agreement dated the date hereof
have been satisfied and (iii) confirmation by each of S&P and Moody's of the
then-current ratings of the Commercial Paper Notes.

          SECTION 6.  AGREEMENT IN FULL FORCE AND EFFECT AS AMENDED.  Except as
specifically amended or waived hereby, all of the terms and conditions of the
Agreement shall remain in full force and effect.  All references to the
Agreement in any other document or instrument shall be deemed to mean such
Agreement as amended by this Fourth Amendment.  This Fourth Amendment shall not
constitute a novation of the Agreement, but shall constitute an amendment
thereof.  The parties hereto agree to be bound by the terms and obligations of
the Agreement, as amended by this Fourth Amendment, as though the terms and
obligations of the Agreement were set forth herein.

          SECTION 7.  PRIOR UNDERSTANDINGS.  This Fourth Amendment sets forth
the entire understanding of the parties relating to the subject matter hereof,
and supersedes all prior understandings and agreements, whether written or oral.

          SECTION 8.  COUNTERPARTS.  This Fourth Amendment may be executed in
any number of counterparts and by separate parties hereto on separate
counterparts, each of which when executed shall be deemed an original, but all
such counterparts taken together shall constitute one and the same instrument.

          SECTION 9.  GOVERNING LAW.  THIS FOURTH AMENDMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

          SECTION 10.  DEFINED TERMS.  Capitalized terms used herein and not
otherwise defined shall have the meanings assigned to such terms in the
Agreement.


                                          3

<PAGE>

          IN WITNESS WHEREOF, the parties hereto have caused this Fourth
Amendment to the Agreement to be duly executed by their respective authorized
officers as of the day and year first above written.


                              MORGAN GUARANTY TRUST COMPANY
                                OF NEW YORK


                              By:
                                   ------------------------
                                   Title:



Acknowledged and consented to:
May 30, 1997

DELAWARE FUNDING CORPORATION

By:  Morgan Guaranty Trust Company
     of New York,
     as attorney-in-fact for
     Delaware Funding Corporation


By:
    ------------------------
    Authorized Signatory


    ------------------------
    Title


ARCADIA FINANCIAL LTD.


By:
    ------------------------
    Authorized Signatory


    ------------------------
    Title


                                          4

<PAGE>

                                                                       EXHIBIT A

                                    Signature Page
                                   with respect to
                    Olympic Automobile Receivables Warehouse Trust
                                Variable Funding Notes
                               Asset Purchase Agreement

                            Dated as of December 28, 1995
                             Amended as of June 12, 1996
                           Amended as of December 20, 1996
                            Amended as of January 17, 1997
                              Amended as of May 30, 1997



                                        Morgan Guaranty Trust Company of
                                          New York,
                                          as Agent and as Administrative
                                          Agent



                                        By:
                                            ------------------------
                                            Authorized Signature


                                            ------------------------
                                            Title


<PAGE>

                                    Signature Page
                                   with respect to
                    Olympic Automobile Receivables Warehouse Trust
                                Variable Funding Notes
                               Asset Purchase Agreement



SECTION 1.

     Percentage:  37.78%

SECTION 2.

     Maximum Purchase:  $85,000,000

SECTION 3.

     Effective Date of Purchase Commitment:                 January 17, 1997

SECTION 4.

     Purchase Termination Date:  December 19, 1997*



                              MORGAN GUARANTY TRUST COMPANY
                                OF NEW YORK
                              500 Stanton Christiana Road
                              Newark, Delaware 19713-2107


                              By:
                                   ------------------------
                                   Authorized Signature



                                   ------------------------
                                   Title






-----------------------
*    At the option of the APA Purchaser named above, August 29, 1997.

<PAGE>

                                    Signature Page
                                   with respect to
                    Olympic Automobile Receivables Warehouse Trust
                                Variable Funding Notes
                               Asset Purchase Agreement



SECTION 1.

     Percentage:  6.67%

SECTION 2.

     Maximum Purchase:  $15,000,000

SECTION 3.

     Effective Date of Purchase Commitment:                 January 17, 1997

SECTION 4.

     Purchase Termination Date:  June 30, 1997



                              THE BANK OF NOVA SCOTIA,
                                ATLANTA AGENCY
                                Suite 2700
                                600 Peachtree Street, N.E.
                                Atlanta, Georgia  30308


                              By:
                                  ------------------------
                                  Title:


                              By:
                                  ------------------------
                                  Title:


<PAGE>

                                    Signature Page
                                   with respect to
                    Olympic Automobile Receivables Warehouse Trust
                                Variable Funding Notes
                               Asset Purchase Agreement



SECTION 1.

     Percentage:  11.11%

SECTION 2.

     Maximum Purchase:  $25,000,000

SECTION 3.

     Effective Date of Purchase Commitment:                 January 17, 1997

SECTION 4.

     Purchase Termination Date:  June 30, 1997



                              COMMERZBANK AKTIENGESELLSCHAFT, CHICAGO BRANCH
                              311 S. Wacker Drive
                              Chicago, Illinois  60606


                              By:
                                  ------------------------
                                  Title:


                              By:
                                  ------------------------
                                  Title:


<PAGE>

                                    Signature Page
                                   with respect to
                    Olympic Automobile Receivables Warehouse Trust
                                Variable Funding Notes
                               Asset Purchase Agreement



SECTION 1.

     Percentage:  22.22%

SECTION 2.

     Maximum Purchase:  $50,000,000

SECTION 3.

     Effective Date of Purchase Commitment:                 January 17, 1997

SECTION 4.

     Purchase Termination Date:     December 19, 1997*



                              HARRIS TRUST AND SAVINGS BANK
                                 111 West Monroe Street
                                 P.O. Box 755
                                 Chicago, Illinois  60690


                              By:
                                  ------------------------
                                  Title:


                              By:
                                  ------------------------
                                  Title:



-----------------------
*    At the option of the APA Purchaser named above, August 29, 1997.

<PAGE>

                                    Signature Page
                                   with respect to
                    Olympic Automobile Receivables Warehouse Trust
                                Variable Funding Notes
                               Asset Purchase Agreement



SECTION 1.

     Percentage:  22.22%

SECTION 2.

     Maximum Purchase:  $50,000,000

SECTION 3.

     Effective Date of Purchase Commitment:                 January 17, 1997

SECTION 4.

     Purchase Termination Date:  December 19, 1997*



                              BANCO SANTANDER, NEW YORK BRANCH
                                 453 East 53rd Street
                                 New York, New York  10022


                              By:
                                  ------------------------
                                  Title:


                              By:
                                  ------------------------
                                  Title:



-----------------------
*    At the option of the APA Purchaser named above, August 29, 1997.