SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10 - Q

(Mark One)

     (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

                For the quarterly period ended December 31, 1996

                                       or

          ( ) TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                    For the Transition Period from ____to____

                        Commission File No. 333-06929-03

                             UACSC 1996-D Auto Trust
               (Issuer with Respect to Registered Securitization)

                         UAC Securitization Corporation
             (Exact name of registrant as specified in its charter)

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

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

Registrant's telephone number including area code              (317) 231-6466
                                                               --------------

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.  Financial Statements

         This Report on Form 10-Q is being filed in respect of UACSC 1996-D Auto
Trust  as  issuer  of  securities  registered  in  Registration   Statement  No.
333-06929-02  on Form S-3 under the Securities Act of 1933, as  amended(declared
effective on July 18,  1996).  Because UACSC 1996-D Auto Trust has simply issued
Certificates  representing  fractional undivided interests in the Trust's assets
consisting of a specific  portfolio of retail  installment sale contracts in new
and used automobiles and light trucks, and because Registrant UAC Securitization
Corporation  is not a  Guarantor  of any of the  payments  due from the Trust to
Certificateholders  that are required to be made  monthly,  there is included in
response to this item only the regular  monthly report form which the Trustee is
required  to  include  with  each  monthly   distribution  of  trust  assets  to
Certificateholders setting forth for the prior calendar month, and cumulatively,
all of the relevant financial information required by Certificateholders.

         Accordingly, the UACSC 1996-D AUTO TRUST MONTHLY SERVICER'S CERTIFICATE
REPORT for the months  ending  November  30, 1996,  and  December 31, 1996,  are
included herewith, as exhibits 99-1, and 99-2, respectively.



<PAGE>


Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations.

         The Trust  conducts no business  other than  receiving  payments on the
receivables and making payments to  Certificateholders  and to Union  Acceptance
Corporation as Servicer as the Registrant with respect to their interests in the
Trust assets.  The  traditional  form of income  statement and balance sheet and
comparative  presentation for prior periods would add no relevant information to
that supplied in the required monthly reports and would not be material.

         Because of the narrowly proscribed and limited activities of the Trust,
the information  called for by Item 303 of Regulation S-K would not add relevant
information  to that  provided  in the  Monthly  Service's  Certificate  Reports
attached hereto in response to Item 1.

                                    PART II.

Item 6.  Exhibits and Reports on Form 8-K.

         There are no  reports  on Form 8-K to be  included  for this  reporting
period. The following exhibits are included in this form 10-Q:

         Exhibit 99-1 Servicer's Certificate Report of November 30, 1996
         Exhibit 99-2 Servicer's Certificate Report of December 31, 1996




<PAGE>
                                   SIGNATURES


Pursuant  to the  requirements  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.

                                 UACSC 1996-D AUTO TRUST

                                 By:        Union Acceptance Corporation, in its
                                                   capacity as Servicer

                                     By:     /s/Rick A. Brown
                                             -----------------------------------
                                                   Rick A. Brown
                                                   Vice President, Treasurer
                                                   and Chief Financial Officer









Date:             February 12, 1997