SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10 - K

                ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934


                For the annual fiscal period ended June 30, 1997,
                        Commission File No.333-06929-03

                             UACSC 1996-D AUTO TRUST
             (Exact name of registrant as specified in its charter)

             Delaware                                 35-1937340
     State or other jurisdiction of                (I.R.S. Employer
     incorporation or organization                 Identification Number)
                                                   UAC Securitization
                                                   Corporation

     250 Shadeland Avenue, Suite 210 A
     Indianapolis, Indiana                              46219
     (address of principal                            (zip code)
     executive offices)
     UAC Securitization Corporation

     Registrant's telephone number including area code    (317) 231-6414

     Securities registered pursuant to Section 12 (b) of the Act: None

     Securities registered pursuant to Section 12 (g) of the Act: None


     Indicate  by check mark  whether the  registrant  (1) has filed all reports
     required to be filed by Section 13 or 15 (d) of the Securities Exchange Act
     of 1937 during the preceding 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.

                               Yes      X                         No

     DOCUMENTS INCORPORATED BY REFERENCE:        None



<PAGE>

                                     PART I



     Item 1. Business.

              The sole and only  "business" of the Trust is the  collection  and
     distribution of payments on the automobile and light truck receivables,  in
     the manner described in the Registration Statement.  Accordingly,  there is
     no relevant  information  to report in  response to Item 101 of  Regulation
     S-K.


     Item 2.  Properties.

          The Trust does not have any  physical  properties.  Accordingly,  this
     item 2 is inapplicable.


     Item 3.  Legal Proceedings.

              There are no material pending legal  proceedings  involving either
     the  Trust,  or,  with  respect  to any  Certificates  or any  other  trust
     property, involving the Trustee or the Company.

     Item 4.  Submission of Matters to a Vote of Security Holders.

             No Votes or consents of Certificateholders are solicited during the
     preceding fiscal year for any purpose.


<PAGE>

                                     PART II

     Item 5.  Market  Price or and  Dividends  on the  Registrant's  Equity  and
Related Stockholder Matters.

          There is no established public trading market for the Certificates.

          As  of  June  30,  1997,   there  were   twenty-two (22)   registered
     Certificateholders.  The Trust pays no dividends. See Exhibit 99-1 and 99-2
     for information with respect to distribution to Certificateholders.


     Item 6.  Selected Financial Data.

              No financial data is required of UAC  Securitization  Corporation,
     as  Registrant  (Registration  Statement  No.  333-06929-03  on form  S-3),
     inasmuch as the Registration Statement was filed for and on behalf of UACSC
     1996-D  Auto  Trust  and,   furthermore,   because  of  UAC  Securitization
     Corporation is not a guarantor of any of the payments due from the Trust to
     Certificateholders.

              The regular monthly report form,  which the Trustee is required to
     include   with   each   monthly    distribution    of   Trust   assets   to
     Certificateholders,  sets forth for the prior  calendar  month,  as well as
     cumulatively,  all of the relevant  financial  information  required by the
     applicable   pooling  and   servicing   agreement  to  be   reportable   to
     Certificateholders.

              The UAC Securitization Corporation UACSC 1996-D Auto Trust Monthly
     Servicer's  Certificate  Reports for the months ending April 30, 1997,  May
     31, 1997 and June 30, 1997;  Consolidated  Monthly  Servicer's  Certificate
     Report,  for the period  November 30, 1996  through June 30, 1997;  and the
     December  31,  1996  and  1995  Financial  Statements  of  Capital  Markets
     Assurance  Corporation,  the surety bond issuer, are incorporated herein by
     reference and attached hereto as Exhibits (Exhibit No. 99-1, 99-2 and 99-3,
     respectively).

              The foregoing presents all relevant financial information relating
     to the Trust.  Because of the limited  business  activity of the Trust, the
     Selected  Financial  Data specified in Item 301 of Regulation S-K would not
     provide meaningful additional information.


     Item 7.  Management's  Discussion  and Analysis of Financial  Condition and
Results of Operation.

              Because  of  the  limited  business  activity  of the  Trust,  the
     presentation of Management's Discussion and Analysis of Financial Condition
     and Results of Operations,  as otherwise required by Item 303 of Regulation
     S-K, would not be meaningful.  All relevant information is contained in the
     monthly statements and consolidated summary annual statement.

     Item 8.  Financial Statements and Supplementary Data.

              As  discussed   above,   furnishing  the   traditional   financial
     information  required  by  Item 8 of  Form  10-K  would  not  add  relevant
     information to that provided by the foregoing statements.

     Item  9.   Disagreements  with  Accountants  on  Accounting  and  Financial
Disclosure.

          Not applicable.
<PAGE>


                                    PART III

     Item 10.  Directors and Executive Officers.

          Not applicable.

     Item 11.  Executive Compensation.

          Not applicable.

     Item 12.  Security Ownership of Certain Beneficial Owners and Management.

          As of June 30, 1997,  there were a total of twenty-two (22) Registered
     Certificateholders,  all of whom maintained  their security  positions with
     the  Depository  Trust  Company.  While  some of these  Certificateholders'
     security positions in the Trust exceeded 5% of the outstanding  Certificate
     Balance;  such securities do not constitute  voting  securities  within the
     meaning of Item 403 of Regulation S-K.

     Item 13.  Certain Relationships and Related Transactions.

          Union  Acceptance  Corporation,  as Servicer,  and UAC  Securitization
     Corporation, as Class IC Certificateholder, receive payments from the Trust
     in  accordance  with the  terms of the  applicable  pooling  and  servicing
     agreement.

                                     PART IV

     Item 14.  Exhibits, Financial Statement Schedules, and Reports on For 8-K.

          No reports on Form 8-K have been filed  during the last quarter of the
     period covered by this report.  Incorporated  herein and attached hereto as
     Exhibit 99-1 is a copy of the Monthly Servicer's Certificate Reports to the
     Trust,  for the months  ending April 30, 1997,  May 31, 1997,  and June 30,
     1997;  as Exhibit  99-2 the  Consolidated  Monthly  Servicer's  Certificate
     Report for the period  November  30, 1996,  through  June 30, 1997;  and as
     Exhibit 99-3 the December 31, 1996 and 1995 Financial Statements of Capital
     Markets Assurance Corporation, the surety bond issuer.

<PAGE>

          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 Servicer
     of the UACSC  1996-D  Auto  Trust,  for and on behalf of UACSC  1996-D Auto
     Trust.

                                              UACSC 1996-D Auto Trust

                                  By:  Union Acceptance Corporation, as Servicer



     Date: September  25 , 1997           By: /s/ Rick A. Brown
                                          --------------------------------------
                                             Rick A. Brown
                                             Vice President

<PAGE>

                                  EXHIBIT INDEX


     No.     Description
    ----     ------------
     4       Pooling and Servicing Agreement Respecting UACSC 1996-D Auto Trust*

             UACSC 1996-D Auto Trust Monthly
             Servicer's Certificate Reports:

     99-1(a) Month Ended April 30, 1997
     99-1(b) Month Ended May 31, 1997
     99-1(c) Month Ended June 30, 1997


     99-2    UACSC 1996-D Auto Trust
             Consolidated Monthly Servicer's    
             Certificate Report Period
             11/30/96 Through 06/30/97

     99-3    Capital  Markets  Assurance  Corporation  Balance  Sheet as of
             December  31,  1996  and 1995 and the  Related  Statements  of
             Income,  Stockholders  Equity  and Cash  Flows for each of the
             years  in  the  three-year  period  ended  December  31,  1996
             (Incorporated  by  reference  from  pages  F-1 to  F-20 of the
             Current  Report on Form 8-K of the  UACSC  1997-C  Auto  Trust
             (File #333-06929, C1K 000100392) as filed on or about September
             12, 1997).




*Incorporated by Reference to Exhibit 4 to Form 8-K filed November 21, 1996.