<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 5
<CIK> 0000919988
<NAME> JAYHAWK ACCEPTANCE CORPORATION
<MULTIPLIER> 1,000
       
<S>                             <C>                     <C>
<PERIOD-TYPE>                   YEAR                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1995
<PERIOD-START>                             JAN-01-1996             JAN-01-1995
<PERIOD-END>                               DEC-31-1996             DEC-31-1995
<CASH>                                           6,605<F1>                 120
<SECURITIES>                                         0                       0
<RECEIVABLES>                                  373,740                 167,491
<ALLOWANCES>                                    73,635                   2,308
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                                     0                       0
<PP&E>                                          14,310                   6,350
<DEPRECIATION>                                   3,765                   1,346
<TOTAL-ASSETS>                                 322,567                 173,373
<CURRENT-LIABILITIES>                           51,372<F2>               7,982
<BONDS>                                         66,153<F3>              32,386
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                        89,009                  47,666
<OTHER-SE>                                     (48,825)                    914
<TOTAL-LIABILITY-AND-EQUITY>                   322,567<F4>             173,373
<SALES>                                              0                       0
<TOTAL-REVENUES>                                53,566                  21,788
<CGS>                                                0                       0
<TOTAL-COSTS>                                   25,852                  12,138
<OTHER-EXPENSES>                                 1,310                       0
<LOSS-PROVISION>                                71,062                   2,243
<INTEREST-EXPENSE>                               6,268                   6,320
<INCOME-PRETAX>                                (50,926)                  6,087
<INCOME-TAX>                                    (1,187)                  1,187
<INCOME-CONTINUING>                                  0                       0
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                   (49,739)                  4,900
<EPS-PRIMARY>                                    (2.17)                    .26
<EPS-DILUTED>                                    (2.17)                    .26
<FN>
<F1>INCLUDES RESTRICTED CASH OF $6,352
<F2>INCLUDES SECURITIZED NOTES OF $37,507
<F3>REVOLVING CREDIT FACILITIES WHICH PERMIT BORROWINGS OF $65 MILLION AND $15
MILLION AT VARIABLE RATE OF INTEREST (8.25% AND 8.0%, RESPECTIVELY AT DECEMBER
31, 1996).
<F4>INCLUDES DEALER HOLDBACKS OF $159,075.
</FN>
        

</TABLE>