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                                                                  EXHIBIT 10.13




                    CENTRAL FINANCIAL ACCEPTANCE CORPORATION

                    EXECUTIVE DEFERRED SALARY AND BONUS PLAN


                            Effective June 24, 1996
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CENTRAL FINANCIAL ACCEPTANCE CORPORATION
EXECUTIVE DEFERRED SALARY AND BONUS PLAN

1.       PURPOSE

         The purpose of the Plan is to attract competent officers and key
         executives by offering flexible compensation opportunities; to
         motivate these executives to promote the growth and profitability of
         the Company; and to associate the interests of these executives with
         those of the Company.

2.       DEFINITIONS

         "Account" shall mean the record maintained by the Company reflecting
         Executive's Deferred Amounts and the interest credited thereon as
         provided for in this Plan.

         "Account Balance" shall mean at any time the total of the amounts
         credited to the Executive's Account and any accrued but not credited
         interest in accordance with the provisions of the Plan.

         "Board of Directors" shall mean the Board of Directors of Central
         Finance Acceptance Corporation.

         "Bonus" shall mean, at any time, the gross amount of the bonus payable
         to the Executive under the Company's Executive Incentive Bonus Program
         (or any other similar bonus program hereafter established by the
         Company), before giving effect to any deferral agreement hereunder.

         "Committee" shall mean the Committee appointed by the Board of
         Directors.

         "Company" shall mean Central Financial Acceptance Corporation.

         "Deferred Amount" shall mean the amount by which the Salary and/or
         Bonus is reduced from time to time as agreed upon by the Executive and
         the Company and deferred in accordance with the terms of the Plan.
         The Deferred Amount may be a dollar amount or a percentage of Salary
         and/or Bonus.


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         "Employee" shall mean any person (including an officer) actively
         employed by the Company on a full-time, salaried basis.

         "Employed" or "Employment" shall mean performing services as an
         employee on a full time basis for the Company.

         "Executive" shall mean an Employee who is an officer or key executive
         of the Company Employed in a high-ranking executive or managerial
         capacity.

         "Participant" shall mean an Executive selected by the Committee and
         whose participation in the Plan for a calendar year has been approved.

         "Plan" shall mean this Executive Deferred Salary and Bonus Plan, as
         from time to time amended and in effect.

         "Salary" shall mean, at any time, the gross amount of base
         compensation being paid to the Executive for Employment, before giving
         effect to any deferral agreement hereunder.

3.       ADMINISTRATION

         The Plan shall be administered by the Committee, which shall have full
         and discretionary authority to interpret the Plan, to establish rules
         and regulations relating to the Plan, to determine the criteria for
         eligibility to participate in the Plan, to select Participants in the
         Plan, and to make all other determinations and take all other actions
         necessary or appropriate for the proper administration of the Plan.
         The Committee's interpretation of the Plan, and all actions taken
         within the scope of its authority, shall be final and binding on the
         Company, its stockholders, Participants, Employees, former Employees
         and beneficiaries.

4.       ELIGIBILITY AND PARTICIPATION

         Participation in the Plan for a calendar year (and for the period
         beginning on the effective date of the Plan and ending December 31,
         1996) shall be limited to those key Executives whom the Committee
         shall select, on the basis of





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         such Executives' impact on the long-term success of the Company, and
         who might benefit from the deferral of amounts otherwise constituting
         current compensation.

5.       DEFERRAL OF SALARY AND/OR BONUS

         A Participant may, subject to the terms and conditions of this Plan,
         elect to defer payment of a maximum of 35% of Salary, and/or a maximum
         of 100% of Bonus, annually under this Plan by completing the form
         prescribed by the Committee.  The form shall constitute an agreement
         between the Company and the Employee as to the amount of Salary and/or
         Bonus to be deferred pursuant to the Plan.  The Committee may further
         limit deferral by individual Participants, for any reason it deems
         advisable.

         (a)     Election.

                 An election to defer Salary shall be made on or before the
                 last regular working day of the Company of the calendar year
                 preceding the calendar year for which the Salary and/or Bonus
                 agreement is to be made and shall be effective upon delivery
                 (or in the event the form is mailed by certified mail, return
                 receipt requested, on the date of mailing) of the deferral
                 form to the Company.  Notwithstanding the preceding sentence,
                 in the calendar year in which this Plan is initially adopted
                 and in the case of an individual who becomes an Executive
                 during a calendar year, a Participant's election to defer
                 Salary that would otherwise be payable after the date of the
                 election, and/or all or a portion of the Bonus payable with
                 respect to the period after the date of the election, may be
                 made up to 30 days after the effective date of the Plan or the
                 individual becomes an Executive and eligible to participate
                 herein, whichever is applicable.  The election made to reduce
                 Salary and/or Bonus by a Participant must remain in effect for
                 an entire calendar year (or, in the case of the calendar year
                 in which this Plan is adopted or the calendar year in which an
                 individual becomes an Executive, the remaining portion of such
                 calendar year to which the





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                 deferral election relates) and may not be changed by any
                 action taken by the Participant thereafter.

         (b)     Payment of Deferred Amount.

                 The Deferred Amount, plus interest credited thereon pursuant
                 to Subsection (c) hereof, upon the Participant's termination
                 of Employment for any reason will be paid to the Participant
                 (or, in the event of the Participant's death, the person or
                 estate determined under Section 6 hereof) in a lump sum within
                 30 days after such termination.

         (c)     Accounts and Interest Credited on Deferred Amount.

                 A separate Account shall be established and maintained for
                 each Participant, which Account shall reflect the Deferred
                 Amount and all interest credited thereon from time to time.
                 Each Participant's Account Balance shall be credited quarterly
                 with interest as of the end of each calendar quarter, with the
                 first such credit being made as of September 30, 1996.  In the
                 event a Participant's Account Balance is paid other than at
                 the end of any calendar quarter, he shall be credited with
                 interest thereon from the end of the immediately preceding
                 calendar quarter to the date of payment.  No interest shall be
                 credited to a Participant's Account after the payment of such
                 Participant's Account Balance.  Interest to be credited for
                 any period shall be at a rate equal to the average prime rate
                 which Wells Fargo Bank N.A. charged from time to time during
                 such period at its principal office on 90-day unsecured
                 commercial loans to its most credit worthy commercial
                 borrowers.  Interest credits shall be computed on the basis of
                 a 360-day year of twelve 30-day months.

         (d)     Acceleration of Payment of Deferred Amount.

                 Payment of the Deferred Amount plus interest may occur prior
                 to the Participant's termination of Employment under the
                 following circumstances:





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                 (1)      At any time prior to complete payment of the
                          Participant's Account Balance, the Company may pay to
                          the Participant an amount not greater than that
                          portion of the Deferred Amount that the Committee
                          determines, in its sole discretion, is necessary to
                          meet an Unforeseeable Emergency.  For purposes of
                          this paragraph, an Unforeseeable Emergency shall mean
                          an unanticipated emergency that is caused by an event
                          beyond the control of the Participant and that would
                          result in severe financial hardship to the
                          Participant if early withdrawal of the Participant's
                          Account Balance were not permitted.  The Participant
                          shall apply in writing to the Committee for any
                          payment under this paragraph and shall furnish to the
                          Committee such information as the Committee deems
                          necessary and appropriate to make its determination.


                 (2)      In no event may payment of the Deferred Amount, and
                          interest thereon, or any portion thereof, be
                          accelerated in any manner other than as provided
                          above.

6.       DESIGNATION OF BENEFICIARY

         A Participant may designate a beneficiary or beneficiaries who, in the
         event of the Participant's death prior to full payment of his Account
         Balance hereunder, shall receive payment of the Account Balance due
         under the Plan.  Such designation shall be made by the Participant on
         a form prescribed by the Committee.  The Participant may, at any time,
         change or revoke such designation.  A beneficiary designation, or
         revocation of a prior beneficiary designation, will be effective only
         if it is made in writing on a form provided by the Company, signed by
         the Participant and received by the Company.  If the Participant does
         not designate a beneficiary or the beneficiary dies prior to receiving
         any payment of the Account Balance, the Account Balance payable under
         the Plan shall be paid to the Participant's estate.

7.       AMENDMENT AND TERMINATION





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         The Board of Directors may at any time amend or terminate this Plan.
         No amendment or termination shall adversely affect a Participant's
         rights to or interest in the Account Balance credited prior thereto
         without the Participant's consent.

8.       MISCELLANEOUS PROVISIONS

         (a)     This Plan is not a contract for employment of the Employee for
                 a certain period of time.  Neither the establishment of this
                 Plan, nor any action taken hereunder, shall be construed as
                 giving any Employee any right to be retained in the Employ of
                 the Company.

         (b)     A Participant's rights and interest under the Plan are not
                 subject in any manner to anticipation, alienation, sale,
                 transfer, assignment, pledge, encumbrance, attachment, or
                 garnishment by creditors of the Participant or the
                 Participant's beneficiary.

         (c)     It is the intention of the parties that the Plan be unfunded
                 for tax purposes and for purposes of Title I of the Employee
                 Retirement Income Security Act of 1974, as amended ("ERISA").
                 The Company shall not be required to establish any special or
                 separate fund, or to make any other segregation of assets, to
                 assure payment of the Account Balance.  Participants have the
                 status of general unsecured creditors of the Company and the
                 Plan constitutes a mere promise by the Company to make benefit
                 payments in the future.

         (d)     To the extent that the Plan is considered to be a plan for
                 purposes of ERISA, it shall be considered an unfunded plan
                 maintained primarily for the purpose of providing deferred
                 compensation for a select group of management or highly
                 compensated employees, within the meaning of Sections 201(2),
                 301(a)(3) and 401(a)(1) of ERISA.



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9.       WITHHOLDING AND PAYMENTS

         The Company shall have the right to deduct from any amount to be paid
         to any Participant or beneficiary any taxes or other amounts required
         by law to be withheld.

10.      EFFECTIVE DATE

         The Plan shall be effective on and after June 24, 1996.





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