Document:

EXHIBIT 10.15a

                               FIRST AMENDMENT TO
                  SECOND AMENDED AND RESTATED CREDIT AGREEMENT
                  --------------------------------------------

         THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT
(this "Amendment"), dated December 6, 1999, is entered into between SONIC
AUTOMOTIVE, INC., a Delaware corporation ("Borrower"), whose address is 5401
East Independence Boulevard, P.O. Box 18747, Charlotte, North Carolina 28218,
and FORD MOTOR CREDIT COMPANY, a Delaware corporation ("Lender"), whose address
is 6302 Fairview Road, Suite 500, Charlotte, North Carolina 28210.

         WHEREAS, pursuant to the terms of a certain Credit Agreement dated as
of October 15, 1997, as amended by that certain Credit Agreement Amendment dated
November 12, 1997, as amended by that certain Amended and Restated Credit
Agreement dated as of December 15, 1997, as amended by that certain Letter
Agreement dated July 28, 1998, as amended by that certain Letter Agreement dated
September 21, 1998, as amended by that certain Letter Agreement dated October
15, 1998, as amended by that certain Amendment to Amended and Restated Credit
Agreement dated March 2, 1999, as further amended by that certain Second Amended
and Restated Credit Agreement dated July 28, 1999 between Borrower and Lender
(collectively, the "Agreement") Lender extended to Borrower a revolving loan
facility in an amount not to exceed $150,000,000.00 (the "Original Loan
Facility"); and

         WHEREAS, the Original Loan Facility is evidenced by a certain
Promissory Note dated as of October 15, 1997, made by Borrower to the order of
Lender in the principal amount of $26,000,000.00, as amended by that certain
Amended and Restated Promissory Note dated December 15, 1997, made by Borrower
to the order of Lender in the principal amount of $75,000,000.00, as amended by
that certain Second Amended and Restated Promissory Note dated March 2, 1999
made by Borrower to the order of Lender in the principal amount of
$100,000,000.00, as further amended and restated by that certain Third Amended
and Restated Promissory Note dated July 28, 1999 made by Borrower to the order
of Lender in the principal amount of $150,000,000.00 (the "Original Note"); and

         WHEREAS, Borrower has requested that Lender amend certain provisions of
the Original Loan Facility and increase the principal balance available to
Borrower thereunder to $350,000,000.00 for additional working capital and to
purchase dealership assets, pursuant to the terms of the Fourth Amended and
Restated Promissory Note dated as of even date herewith in the principal amount
of $350,000,000.00 and made by Borrower to the order of Lender (the "Amended
Note" and with the Original Note collectively referred to as the "Note"); and

         WHEREAS, Lender is willing to amend and increase the Original Loan
Facility if and only if (a) Borrower executes this Amendment and the Amended
Note, and (b) each Sonic Dealership (as defined in the Agreement) and each
Subsidiary Holding Company (as defined in the Agreement) executes the
Reaffirmation of Guaranty dated as of even date herewith reaffirming their
guaranty of the indebtedness and obligations of the Borrower and each other
Sonic Dealership and Subsidiary Holding Company to Lender under the Wholesale
Lines (as defined in the Agreement) and the Original Loan Facility, as amended
and increased;

         NOW THEREFORE, in consideration of the premises and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, and intending to be legally bound hereby, Borrower and Lender
agree as follows:
<PAGE>
         1. Incorporation by Reference and Defined Terms. The parties hereby
incorporate the foregoing recitals in this Amendment as though fully set forth
herein, agreeing that such recitals are material, true and correct. Except as
modified herein, all capitalized terms shall have the meanings set forth in the
Agreement and the Note.

         2. Loan Facility. The term "Loan Facility" shall mean the Original Loan
Facility, as amended by this Amendment.

         3. Amendment of Agreement. The Agreement is hereby amended to provide
as follows:

                  (a) The definition of "Applicable Commercial Paper Rate" set
forth in Article I, Section 1.1 of the Agreement is hereby deleted in its
entirety and the following shall be substituted therefor:

                  "APPLICABLE LIBOR RATE" means as of any Payment Date, the
         LIBOR Rate plus two and fifty hundredths percent (2.50%) per annum."

                  (b) The definition of "Average Scaled Assets" set forth in
Article I, Section 1.1 of the Agreement is hereby deleted in its entirety.

                  (c) The definition of "Commercial Paper Rate" set forth in
Article I, Section 1.1 of the Agreement is hereby deleted in its entirety and
the following shall be substituted therefor:

                  "LIBOR RATE" means the monthly arithmetic average of the per
         annum interest rate announced from time to time as the one month London
         Interbank Offered Rates quoted each Monday for the previous Friday
         under the Money Rates Column of the Wall Street Journal, or as
         published in such other publications as Lender may designate. In the
         event such rate is not quoted on Monday for the previous Friday, the
         rate quoted on the first business day of the week for the last business
         day of the previous week shall be utilized."

                  (d) The definition of "Commitment" set forth in Article I,
Section 1.1 of the Agreement is hereby deleted in its entirety and the following
shall be substituted therefor:

                  "COMMITMENT" means the lesser of (a) $350,000,000.00 and (b)
         the Scaled Assets of the Sonic Group plus $100,000,000.00; provided,
         however, that for purposes of Section 2.9(C) hereof, "Commitment" shall
         mean the lesser of (a) $350,000,000.00 and (b) the amount to which the
         Commitment has been reduced from time to time pursuant to Section 2.3
         hereof "

                  (e) The definition of "Contribution Agreement" set forth in
Article I, Section 1.1 of the Agreement is hereby deleted in its entirety and
the following shall be substituted therefor:

                  "CONTRIBUTION AGREEMENT" means that certain Amended and
         Restated Contribution Agreement, dated as of October 20, 1997, as
         amended by the Second Amended and Restated Contribution Agreement,
         dated as of December 15, 1997, as amended by the Third Amended and
         Restated Contribution Agreement, dated as of March 24, 1998, as amended
         and restated by the Fourth Amended and Restated Contribution Agreement,
         dated as of December 1, 1998, as amended and restated by the Fifth
         Amended and Restated Contribution Agreement dated March 2, 1999, as
         amended and restated by the Sixth Amended and Restated Contribution
         Agreement dated July 28,

                                      -2-
<PAGE>
         1999, as amended and restated by the Seventh Amended and Restated
         Contribution Agreement dated December 6, 1999, and as such agreement
         may be further amended, restated or otherwise modified and in effect
         from time to time."

                  (f) The definition of "Daily Adjustment Amount" set forth in
Article I, Section 1.1 of the Agreement, is hereby deleted in its entirety.

                  (g) The definition of "Note" as set forth in Article I,
Section 1.1 of the Agreement is hereby deleted in its entirety and the following
shall be substituted therefor:

                  "NOTE" means that Promissory Note dated October 15, 1997 duly
         executed by the Borrower and payable to the order of the Lender in the
         principal amount of $26,000,000.00, as amended and restated by that
         certain Amended and Restated Promissory Note dated December 15, 1997
         duly executed by the Borrower and payable to the order of Lender in the
         principal amount of $75,000,000.00, as amended and restated by that
         certain Second Amended and Restated Promissory Note dated March 2, 1999
         duly executed by the Borrower and payable to the order of Lender in the
         principal amount of $100,000,000.00, as amended and restated by that
         certain Third Amended and Restated Promissory Note dated July 28, 1999
         duly executed by the Borrower and payable to the order of Lender in the
         principal amount of $150,000,000.00, as further amended and restated by
         that certain Fourth Amended and Restated Promissory Note dated
         December 6, 1999 duly executed by the Borrower and payable to the
         order of Lender in the principal amount of $350,000,000.00 including
         any amendment, restatement, modification, renewal, increase or
         replacement of such Note."

                  (h) The definition of "Quarter" as set forth in Article I,
Section 1.1 of the Agreement is hereby deleted in its entirety.

                  (i) The definition of "Quarterly Payment Date" as set forth in
Article I, Section 1.1 of the Agreement is hereby deleted in its entirety.

                  (j) The definition of "Reaffirmation of Guaranty" as set forth
in Article I, Section 1.1 of the Agreement is hereby deleted in its entirety and
the following shall be substituted therefor:

                  "REAFFIRMATION OF GUARANTY" means, collectively, the
Reaffirmation of Guaranty dated July 28, 1999 and the Reaffirmation of Guaranty
dated December 6, 1999 from each Dealership Guarantor and each Subsidiary
Holding Company to Lender, pursuant to which each Dealership Guarantor and each
Subsidiary Holding company reaffirmed its guaranty of the Obligations as such
Obligations have been amended, restated and/or increased."

                  (k) The definition of "Scaled Assets Adjustment Amount" as set
forth in Article I, Section 1.1 of the Agreement is hereby deleted in its
entirety.

                  (l) The definition of "Termination Date" as set forth in
Article I, Section 1.1 of the Agreement is hereby deleted in its entirety and
the following shall be substituted therefor:

                  "TERMINATION DATE" means the earlier of (a) October 31, 2002
         and (b) the date of termination of the Commitment pursuant to either of
         Section 2.3 or Section 7.1 hereof."

                  (m) Section 2.1 of the Agreement entitled "Advances" is hereby
deleted in its entirety and the following shall be substituted therefor:

                                      -3-
<PAGE>
         "2.1 Advances. Upon the satisfaction of the conditions precedent set
forth in Sections 3.1 and 3.2, from and including the date of this Agreement and
prior to the Termination Date, the Lender shall, on the terms and conditions set
forth in this Agreement, make Advances to the Borrower from time to time, in
Dollars, in an amount not to exceed the Revolving Credit Availability at such
time; provided, however, at no time shall the Revolving Credit Obligations
exceed the Commitment at such time. Subject to the terms of this Agreement, the
Borrower may borrow, repay and re-borrow Advances at time prior to the
Termination Date. The Borrower shall repay in full the outstanding principal
balance of each Advance on or before the Termination Date."

                  (n) Section 2.2(A) of the Agreement entitled "Optional
Payments" is hereby deleted in its entirety and the following shall be
substituted therefor:

         "2.2(A) Optional Payments. The Borrower may from time to time repay or
prepay, without penalty or premium all or any part of outstanding Advances;
provided, however, that the Borrower may not so prepay Advances unless it shall
have provided notice to the Lender of such prepayment by 12:00 p.m. on the day
such payment will be made, and the amount of such prepayment is not less than
$500,000.00."

                  (o) Section 2.3 of the Agreement entitled "Changes in the
Commitment. Reduction of Commitment." is hereby deleted in its entirety and the
following shall be substituted therefor:

         "2.3 Changes in the Commitment. Reduction of Commitment. The Borrower
may permanently reduce the Commitment in whole, or in part, in an aggregate
minimum amount of $5,000,000.00 and integral multiples of $1,000,000.00 in
excess of that amount (unless the Commitment is reduced in whole), upon at least
three (3) Business Day's written notice to the Lender, which notice shall
specify the amount of any such reduction, and upon payment of a
termination/reduction fee equal to the amount by which the Commitment is reduced
multiplied by:

                                      -4-
<PAGE>
         (a) one-half of one percent (.50%), if Borrower terminates the
             Commitment on or before November 1, 2000; or

         (b) three-eighths of one percent (.375%), if Borrower terminates the
             Commitment after November 1, 2000 but on or before November 1,
             2001; or

         (c) one-quarter of one percent (0.25%), if Borrower terminates the
             Commitment after November 1, 2001 but before October 31, 2002.

         Notwithstanding the foregoing, the amount of the Commitment may not be
         reduced below the aggregate principal amount of the outstanding
         Revolving Credit Obligations. All accrued commitment fees and
         termination fees shall be payable on the effective date of any partial
         or complete termination of the obligations of the Lender to make
         Advances hereunder."

                  (p) Section 2.4 of the Agreement entitled "Method of
Borrowing" is hereby deleted in its entirety and the following shall be
substituted therefor:

                  "Method of Borrowing. The Borrower shall give the Lender
         irrevocable notice in substantially the form of Exhibit B hereto (a
         "BORROWING NOTICE") not later than 10:00 a.m. (Eastern Standard Time)
         on the Business Day preceding the Borrowing Date of each Advance,
         specifying: (i) the Borrowing Date (which shall be a Business Day) of
         such Advance; (ii) the aggregate amount of such Advance; (iii) the use
         of proceeds of such Advance, and (iv) the account or accounts into
         which the Advances should be funded. Not later than 2:00 p.m. (Eastern
         Standard Time) on each Borrowing Date, the Lender shall make available
         its Advance, in funds immediately available to the Borrower at such
         account or accounts as shall have been notified to the Lender. Each
         Advance shall bear interest from and including the date of the making
         of such Advance to (but not including) the date or repayment thereof at
         the Applicable LIBOR Rate, changing when and as the underlying LIBOR
         Rate changes, which such interest shall be payable in accordance with
         Section 2.9(B)."

                  (q) Section 2.6 of the Agreement, entitled "Default Rate: Late
Payment Fee" is hereby deleted in its entirety and the following shall be
substituted therefor:

                  "Default Rate: Late Payment Fee. After the occurrence and
         during the continuation of an Event of Default, at the option of the
         Lender, the interest rate(s) applicable to the Advances shall be equal
         to the Applicable LIBOR Rate plus three percent (3.0%) per annum. To
         the extent not in excess of the Maximum Rate and in accordance with
         applicable law, any amount not paid by the Borrower when due shall
         accrue interest at an additional five percent (5.0%) per annum above
         the rate applicable thereto until such amounts have been paid in full
         and shall be payable on demand by the Lender and at any rate no later
         than the next succeeding Payment Date."

                  (r) Section 2.9(B)(i) of the Agreement, entitled "Interest
payable on Advances" is hereby deleted in its entirety and the following shall
be substituted therefor:

                  "Interest Payable on Advances. Interest accrued on each
         Advance shall be payable on each Payment Date, commencing with the
         first such date to occur after the date hereof and at maturity (whether
         by acceleration or otherwise). On each Payment

                                      -5-
<PAGE>
             Date from and after November 1, 1999 to maturity, the Borrower
             shall pay interest at the Applicable LIBOR Rate on each Advance
             outstanding on such date."

                  (s) Section 2.10 of the Agreement, entitled "Termination Date"
is hereby deleted in its entirety and the following shall be substituted
therefor:

                  "Termination Date. This Agreement shall be effective until the
         Termination Date. Notwithstanding the termination of this Agreement on
         the Termination Date, until all of the Obligations (other than
         contingent indemnity obligations, but including all Floor Plan
         Indebtedness) shall have been fully and indefeasibly paid and satisfied
         and all financing arrangements between the Borrower and the Lender in
         connection with this Agreement shall have been terminated (other than
         with respect to Hedging Obligations), all of the rights and remedies
         under this Agreement and the other Loan Documents shall survive and the
         Lender shall be entitled to retain its security interest in and to all
         existing and future Collateral."

                  (t) Section 5.2(K) of the Agreement, entitled "Use of
Proceeds" is hereby deleted in its entirety and the following shall be
substituted therefor:

                  "Use of Proceeds. The Borrower shall use the proceeds of the
         Advances to (i) fund Permitted Acquisitions and (ii) provide funds for
         working capital needs and other general corporate purposes of the
         Borrower. The proceeds of Advances hereunder may not be used to make
         any mandatory prepayment under Section 2.2(B). The Borrower will not
         nor will it permit any Subsidiary to, use any of the proceeds of the
         Loans to purchase or carry any "Margin Stock" or to make any
         Acquisition, other than any Permitted Acquisition pursuant to Section
         5.3(F)."

                  (u) Section 5.3(E) of the Agreement, entitled "Restricted
Payments" is hereby deleted in its entirety and the following shall be
substituted therefor:

                  "Restricted Payments. Neither the Borrower nor any of its
         Subsidiaries shall declare or make any Restricted Payments, except:

                  (i)  where the consideration therefor consists solely of
                       Equity Interests (but excluding Disqualified Stock) of
                       the Borrower or its Subsidiaries provided no Change of
                       Control would occur as a result thereof;

                  (ii) in connection with the payment of dividends by a
                       Subsidiary to the Borrower; and

                  (iii) the redemption or repurchase by Borrower of any Equity
                       Interests of the Borrower or a Subsidiary of Borrower,
                       now or hereafter outstanding, provided that after giving
                       effect to such redemption or repurchase, Borrower remains
                       in compliance with the Financial Covenants set forth in
                       Section 5.4 hereof."

                  (v) Section 5.4(B) of the Agreement, entitled "Total Adjusted
Debt to Tangible Base Capital Ratio" is hereby deleted in its entirety.

                  (w) Section 5.4(C) of the Agreement, entitled "Fixed Charge
Coverage Ratio" is hereby deleted in its entirety and the following shall be
substituted therefor:

                                      -6-
<PAGE>
                  "Fixed Charge Coverage Ratio. The Borrower shall maintain a
         ratio ("FIXED CHARGE COVERAGE RATIO") of (i) EBITDAR less Capital
         Expenditures, to (ii) (a) Interest Expense plus (b) scheduled
         amortization of the principal portion of all Indebtedness for money
         borrowed plus (c) Rentals plus (d) taxes paid in cash during such
         period of the Borrower and its consolidated Subsidiaries of at least
         1.4:1 for each fiscal quarter ending from and after the Effective Date.
         In each case the Fixed Charge Coverage Ratio shall be determined as of
         the last day of each fiscal quarter for the four-quarter period ending
         on such day."

         4. Warranties and Representations of Borrower. Borrower represents and
warrants to Lender that the representations and warranties contained in Article
IV of the Agreement are true and correct as of the date hereof and that Borrower
is not in default under the Original Note, the Agreement or any other loan
document delivered to Lender in connection therewith, nor is there a
circumstance which, upon the giving of notice or the passage of time or both,
would constitute a default under any provision thereof. Borrower stipulates and
declares to Lender that Borrower has no charge, claim, demand, plea or set-off
upon, for or against the Original Note, the Agreement or any other loan
documents delivered in connection therewith.

         5. Rights Granted Lender. All rights granted to Lender under this
Amendment shall be in addition to any rights granted to Lender under the Note,
the Agreement or any other loan document delivered in connection therewith.

         6. Amendment. The terms and conditions of the Agreement shall apply
equally to the indebtedness evidenced by the Note, and the covenants of the
Agreement, as amended by this Amendment and shall remain in full force and
effect until the Principal Balance of the Note and interest thereon is paid in
full and all of the obligations of Borrower to Lender under the Agreement, as
amended, and the Note are fully performed and observed. Except as otherwise
amended in this Amendment, the terms and conditions of the Agreement shall
remain in full force and effect in accordance with the provisions thereof. The
Loan Facility may be further renewed or extended only upon such terms and
conditions and at such rate of interest as the parties hereby may agree upon in
writing.

                                      -7-
<PAGE>
         IN WITNESS WHEREOF, Borrower and Lender have executed this Amendment
under seal as of the date set forth above intending to be legally bound hereby.

                                       FORD MOTOR CREDIT COMPANY,
                                       a Delaware corporation

                                       By: /s/ William J. Beck IV     (SEAL)
                                          ----------------------------
                                       Name:   William J. Beck IV
                                             --------------------------
                                       Title:  National Account Manager
                                             --------------------------

                                       SONIC AUTOMOTIVE, INC.,
                                       a Delaware corporation

                                       By:  /s/ B. Scott Smith        (SEAL)
                                           ---------------------------
                                       Name:  B. Scott Smith
                                       Title:  President

                                      -8-EXHIBIT 10.16
                   FOURTH AMENDED AND RESTATED PROMISSORY NOTE
                     (Acquisition/Revolving Line of Credit)
                                  (LIBOR Rate)

$350,000,000.00                                        Charlotte, North Carolina

                                                       December 6, 1999

         FOR VALUE RECEIVED, SONIC AUTOMOTIVE, INC., a Delaware corporation
("Borrower"), whose address is 5401 East Independence Blvd., P.O. Box 18747,
Charlotte, North Carolina 28218, promises to pay to FORD MOTOR CREDIT COMPANY, a
Delaware corporation ("Lender"), or order, at 6302 Fairview Road, Suite 500,
Charlotte, North Carolina 28210, or at such other place as Lender may from time
to time in writing designate, in lawful money of the United States of America,
the principal sum of THREE HUNDRED FIFTY MILLION AND 00/100 DOLLARS
($350,000,000.00), or so much thereof as may be advanced from time to time,
together with interest, adjusted monthly, on the principal balance outstanding
from time to time (the "Principal Balance"), in like money, from the date of
this Fourth Amended and Restated Promissory Note (this "Note"), to and including
the Termination Date, at the rate of two and fifty hundredths percent (2.50%)
per annum above the LIBOR Rate (as defined herein) in effect from time to time
(the "Applicable Interest Rate"):

         Capitalized terms used herein and not otherwise defined herein shall
have the meaning given to such terms in the Agreement.

         For purposes of computing interest during the term of this Note, the
Applicable Interest Rate for each month shall be based on the LIBOR Rate in
effect on the last day of the prior month. All changes in the Applicable
Interest Rate shall become effective on the first day of a month following a
change in the LIBOR Rate and shall be deemed in effect throughout such month.

         The Principal Balance and interest thereon at the Applicable Interest
Rate shall be due and payable as hereinafter set forth.

         The outstanding Principal Balance hereunder may fluctuate up and down
from time to time as Advances are made, and Borrower repays the Principal
Balance, or any portion thereof; provided, however, that at any one time, the
aggregate of all Advances made hereunder may not exceed the lesser of (a)
$350,000,000.00 and (b) the Scaled Assets of the Sonic Group plus
$100,000,000.00.

         This Note amends, restates, replaces and supersedes the Promissory Note
dated as of October 15, 1997 in the original principal amount of $26,000,000.00,
as amended and restated by that certain Amended and Restated Promissory Note
dated December 15, 1997, in the original principal amount of $75,000,000.00, as
amended and restated by that certain Second Amended and Restated Promissory Note
dated March 2, 1999 in the principal amount of $100,000,000.00, as further
amended and restated by that certain Third Amended and Restated Promissory Note
dated July 28, 1999 in the principal amount of $150,000,000.00 from Borrower to
Lender (collectively, the "Original Note"). Any interest accrued on the Original
Note as of the date hereof will be included in the next monthly payment due
hereunder.
<PAGE>
         The term "AGREEMENT" shall mean the Credit Agreement dated as of
October 15, 1997, as amended by that certain Credit Agreement Amendment dated
November 12, 1997, as amended and restated by that certain Amended and Restated
Credit Agreement dated as of December 15, 1997, as amended by that certain
Letter Agreement dated July 28, 1998, as amended by that certain Letter
Agreement dated September 21, 1998, as amended by that certain Letter Agreement
dated October 15, 1998, as amended by that certain Amendment to Amended and
Restated Credit Agreement dated March 2, 1999, as amended and restated by that
certain Second Amended and Restated Credit Agreement dated July 28, 1999, as
further amended by that certain First Amendment to Second Amended and Restated
Credit Agreement dated as of even date herewith between Borrower and Lender.

         The term "LIBOR RATE" shall mean the monthly arithmetic average of the
per annum interest rate announced from time to time as the one month London
Interbank Offered Rates quoted each Monday for the previous Friday under the
Monday Rates Column of the Wall Street Journal, or as published in such other
publications as Lender may designate. In the event such rate is not quoted on
Monday for the previous Friday, the rate quoted on the first business day of the
week for the last business day of the previous week shall be utilized.

         The term "PAYMENT DATE" shall mean the fifteenth day of each calendar
month, provided, however, if such day is not a Business Day, then the Payment
Date shall be the next succeeding Business Day following such fifteenth day.

         The term "SECURITY DOCUMENTS" shall mean the Agreement and any and all
of the documents now or hereafter executed by Borrower and/or others, and by or
in favor of Lender, which wholly or partially guarantee or secure this Note or
are executed in connection with this Note.

         The term "TERMINATION DATE" shall mean the earlier of (a) October 31,
2002 and (b) the date of the termination of the Commitment pursuant to either of
Section 2.3 or Section 7.1 of the Agreement.

         From November 1, 1999 to and including the Termination Date, the
Principal Balance and interest thereon shall be due and shall be payable as
follows:

         (a)  consecutive monthly installments of interest at the Applicable
              Interest Rate on the unpaid Principal Balance outstanding
              commencing on the first Payment Date following the date hereof and
              continuing thereafter on each Payment Date through and including
              the Termination Date; and

         (b)  if at any time and for any reason the outstanding Principal
              Balance exceeds the lesser of (i) $350,000,000.00 and (ii) the
              Scaled Assets of Sonic Group plus $100,000,000.00, the Borrower
              shall immediately make a mandatory prepayment in an amount equal
              to such excess; and

         (c)  on the Termination Date, a final installment which shall include
              all unpaid amounts of the Principal Balance and interest accrued
              and unpaid thereon and any and all other payments due under this
              Note and the Security Documents.

         Each of such payments shall be applied first to interest at the
Applicable Interest Rate and the balance to reduction of the Principal Balance.

                                      -2-
<PAGE>
         Except for a prepayment of the Principal Balance in whole made in
connection with Borrower's termination of the Commitment, Borrower may prepay
the unpaid Principal Balance in whole or from time to time in part, upon payment
of interest accrued on the unpaid Principal Balance outstanding through the day
of prepayment and all other charges, without premium. Prepayments of the
Principal Balance shall be applied to installments of the Principal Balance
remaining unpaid in the inverse order of their maturity and shall be credited to
the Principal Balance as of the date of receipt by Lender. Notwithstanding the
foregoing, the Borrower may not so prepay the unpaid Principal Balance unless
Borrower shall have provided notice to the Lender of such prepayment by 12:00
p.m. on the day such payment will be made and the amount of such prepayment is
not less than $500,000.00.

         Any prepayments of the Principal Balance made in connection with the
reduction or termination of the Commitment shall be subject to the terms and
conditions of Section 2.3 of the Agreement, including but not limited to the
payment of a termination/reduction fee equal to the amount by which the
Commitment has been reduced multiplied by:

         (a)  one-half of one percent (0.50%), if Borrower terminates the
              Commitment on or before November 1, 2000; or

         (b)  three-eighths of one percent (0.375%), if Borrower terminates the
              Commitment after November 1, 2000 but on or before November 1,
              2001; or

         (c)  one-quarter of one percent (0.25%), if Borrower terminates the
              Commitment on or after November 1, 2001 but before October 31,
              2002.

         Payment of this Note is secured by the Security Documents. All of the
agreements, conditions, covenants, provisions and stipulations contained in the
Security Documents which are to be kept and performed by Borrower are hereby
made a part of this Note to the same extent and with the same force and effect
as if they were fully set forth herein, and Borrower covenants and agrees to
keep and perform them, or cause them to be kept and performed, strictly in
accordance with their terms.

         Time is of the essence hereof and if any of the Principal Balance or
interest on this Note or other sum due hereunder is not paid when due, to the
extent not in excess of the Maximum Rate (as such term is defined in the
Agreement) and in accordance with applicable law, any amount not paid by the
Borrower when due shall accrue interest at an additional five percent (5.0%) per
annum above the rate applicable thereto until such amounts have been paid in
full and shall be payable on demand by the Lender and at any rate not later than
the next succeeding Payment Date. If any Event of Default shall occur, then
Lender, at its option and without further notice, demand or presentment for
payment to Borrower or others, may declare immediately due and payable the
unpaid Principal Balance and interest accrued thereon to the date of such Event
of Default and thereafter at the Applicable Rate plus three percent (3%) per
annum, together with all other sums owed by Borrower under this Note and the
Security Documents.

         This Note is the "Note" referred to in, and is entitled to the benefits
of, the Agreement. The Agreement, among other things, (i) provides for the
making of Advances by the Lender to the Borrower from time to time in an
aggregate amount not to exceed at any time outstanding the U.S. Dollar amount
first above mentioned, the indebtedness of the Borrower resulting from each such
advance being evidenced by this Note, and (ii) contains provisions for
acceleration of the maturity hereof upon the happening of certain stated events
and also for the prepayment of the principal hereof prior to the Termination
Date upon the terms and conditions therein specified.

                                      -3-
<PAGE>
         Principal and interest are payable in lawful money of the United States
of America to the Lender, so such domestic account as the Lender may designate,
in same day funds. At the time of each Advance, and upon each payment or
prepayment of principal of each Advance, the Lender shall make a notation either
on the schedule attached hereto and made a part hereof, or in such Lender's own
books and records, in each case specifying the amount of such Advance, or the
amount of principal paid or prepaid with respect to such Advance, as the case
may be; PROVIDED that the failure of the Lender to make any such recordation or
notation shall not affect the Obligations of the Borrower hereunder or under the
Agreement.

         The remedies of Lender, as provided in this Note and the Security
Documents, shall be cumulative and concurrent and may be pursued singularly,
successively or together, at the sole discretion of Lender, and may be exercised
as often as occasion therefor shall occur; and the failure to exercise any such
right or remedy shall in no event be construed as a waiver or release thereof.

         Borrower waives presentment for payment, demand, notice of demand,
notice of nonpayment or dishonor, protest and notice of protest of this Note,
and all other notices in connection with the delivery, acceptance, performance,
default, or enforcement of the payment of this Note.

         Lender shall not be deemed, by any act of omission or commission, to
have waived any of its rights or remedies hereunder unless such waiver is in
writing and signed by Lender and, then, only to the extent specifically set
forth in the writing. A waiver with reference to one event shall not be
construed as continuing or as a bar to or waiver of any right or remedy as to a
subsequent event.

         This instrument shall be interpreted, and the rights and liabilities of
the parties hereto determined, in accordance with the internal laws (as
distinguished from the conflicts of law provisions) of the State of North
Carolina.

         Whenever used, the singular shall include the plural, the plural shall
include the singular, and the words "Lender" and "Borrower" shall be deemed to
include their respective heirs, administrators, executors, successors and
assigns. The provisions of this Note shall be binding upon and inure to the
benefit of said heirs, administrators, executors, successors and assigns.
Borrower's successors and assigns shall include, without limitation, a receiver,
trustee or debtor in possession of or for Borrower.

         In the event any one or more of the provisions hereof shall be invalid,
illegal or unenforceable in any respect, the validity of the remaining
provisions hereof shall be in no way affected, prejudiced or disturbed hereby.

         This Note amends and restates in full the Original Note and is issued
in substitution for and not in payment of such prior Original Note and is not
intended to constitute a novation thereof.

         IN WITNESS WHEREOF, Borrower, intending to be legally bound hereby, has
duly executed this Note under seal, the day and year first above written.

                                      -4-
<PAGE>
                                         SONIC AUTOMOTIVE, INC.,
                                         a Delaware corporation

                                         By: /s/  B. Scott Smith      (SEAL)
                                            --------------------------
                                         Name:   B. Scott Smith
                                         Title:  President

                                      -5-

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