Document:

<PAGE>

                                                                Exhibit 10.1c(3)

             THIRD AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER

     This Third Amendment to Credit Agreement and Limited Waiver, dated as of
December 31, 2001 (this "Amendment and Waiver"), by and among STEEL DYNAMICS,
INC., an Indiana corporation (the "Borrower"), the lenders executing this
Amendment and Waiver on the signatures pages hereof and MELLON BANK, N. A., as
Agent for the Lenders under the Credit Agreement referred to below (the
"Agent").

     Introductory Statements:

     A. Reference is made to the Credit Agreement, dated as of May 5, 2000, (as
amended to date, the "Credit Agreement"), by and among the Borrower, the Lenders
listed on the signature pages hereof (collectively, the "Lenders") and the
Agent. Capitalized terms used herein and not otherwise defined herein shall have
the meanings ascribed to such terms in the Credit Agreement.

     B. The Borrower has advised the Lenders and the Agent that the Borrower is
in violation of Section 6.01(a) of the Credit Agreement in that the Borrower's
Leverage Ratio for the period of four consecutive fiscal quarters ending
December 31, 2001 exceeds 5.0 to 1 (such violation, the "Identified Violation").

     C. The Borrower has also advised the Lenders and the Agent that the
Borrower may, as of March 31, 2002, be in violation of Section 6.01(a) of the
Credit Agreement in that the Borrower's Leverage Ratio for the period of four
consecutive fiscal quarters ending March 31, 2002 may exceed 4.0 to 1 (such
violation, the "Identified March Violation").

     D. The Borrower has requested that, for the period from December 31, 2001
to, but not including, March 31, 2002 (the "Waiver Period"), the Required
Lenders waive (i) compliance with Section 6.01(a) of the Credit Agreement for
the period of four consecutive fiscal quarters ending December 31, 2001, (ii)
satisfaction of the conditions of lending under Section 4.02(d) of the Credit
Agreement to the extent, and only to the extent, that such conditions of lending
fail to be satisfied as a result of, and as a result solely of, the Identified
Violation and (iii) satisfaction of the conditions to conversion or renewal of
Interest Rate Options under Section 2.07(a) of the Credit Agreement to the
extent, and only to the extent, that such conditions to conversion or renewal
fail to be satisfied as a result of, and as a result solely of, the Identified
Violation.

     E. The Borrower has advised the Lenders that it is considering arranging
for the refinancing the Loans and the loans under the Existing Credit Agreement,
as amended. The Borrower has requested that if, and only if, on March 31, 2002,
the Borrower shall have theretofore received commitments from financial
institutions to provide financing on terms satisfactory to the Borrower in an
aggregate amount sufficient to pay the Loans and the loans under the Existing
Credit Agreement, as amended, in full and the Borrower and such financial
institutions shall be in process of finalizing the documentation for such
refinancing, and the Borrower shall have provided to the Lenders a certificate
to both such effects, then the Waiver Period shall be extended to end on April
30, 2002 (or, if earlier, the date on which such commitments terminate or on
which the process of finalizing documentation for such refinancing ceases) and
the Identified March Violation, as well as the Identified Violation, shall be
covered by the waiver referred to in the immediately preceding paragraph.

     F. The Borrower and the Required Lenders desire to make certain amendments
to the Credit Agreement.

<PAGE>

     Section 1. Waiver. The Required Lenders hereby waive, for the Waiver Period
only, (i) compliance with Section 6.01(a) of the Credit Agreement for the period
of four consecutive fiscal quarters ending December 31, 2001, (ii) satisfaction
of the conditions of lending under Section 4.02(d) of the Credit Agreement to
the extent, and only to the extent, that such conditions of lending fail to be
satisfied as a result of, and as a result solely of, the Identified Violation
and (iii) satisfaction of the conditions to conversion or renewal of Interest
Rate Options under Section 2.07(a) of the Credit Agreement to the extent, and
only to the extent, that such conditions to conversion or renewal fail to be
satisfied as a result of, and as a result solely of, the Identified Violation.

     Section 2. Extended Waiver. The effectiveness of the waiver granted by the
Required Lenders in the next succeeding sentence is subject to satisfaction of
the condition that on March 31, 2002, the Borrower shall have theretofore
received commitments from financial institutions to provide financing on terms
satisfactory to the Borrower in an aggregate amount sufficient to pay the Loans
and the loans under the Existing Credit Agreement, as amended, in full and the
Borrower and such financial institutions shall be in process of finalizing the
documentation for such financing and the Borrower shall have provided to the
Lenders a certificate to both such effects. Subject to satisfaction of the
condition set forth in the immediately preceding sentence, the Required Lenders
hereby waive, for the Waiver Extension Period only, (i) compliance with Section
6.01(a) of the Credit Agreement for the period of four consecutive fiscal
quarters ending December 31, 2001 and for the period of four consecutive fiscal
quarters ending March 31, 2002, (ii) satisfaction of the conditions of lending
under Section 4.02(d) of the Credit Agreement to the extent, and only to the
extent, that such conditions of lending fail to be satisfied as a result of, and
as a result solely of, the Identified Violation and/or the Identified March
Violation and (iii) satisfaction of the conditions to conversion or renewal of
Interest Rate Options under Section 2.07(a) of the Credit Agreement to the
extent, and only to the extent, that such conditions to conversion or renewal
fail to be satisfied as a result of, and as a result solely of, the Identified
Violation and/or the Identified March Violation. As used herein, the term Waiver
Extension Period means the period commencing on March 31, 2002 and ending on the
earlier to occur of (i) April 30, 2002 and (ii) the date on which the
commitments referred to in the first sentence of this Section 2 terminate or on
which the process of finalizing documentation for the financing referred to in
the first sentence of this Section 2 ceases.

     Section 3. Amendments.

     3.1. The Credit Agreement is hereby amended by adding thereto, as a new
Section 6.19 thereof, the following:

          6.19. Maintenance of Cash with Lenders. The Borrower shall not permit
     any of its cash to be held or maintained other than in one or more deposit
     accounts each of which is maintained by the Borrower with a lender under
     the Existing Credit Agreement, as amended.

     3.2. Section 6.03 of the Credit Agreement, entitled "Indebtedness" is
hereby amended by deleting the figure "$95,000,000" appearing at the end of
clause (i) thereof and inserting in lieu thereof the figure "$125,000,000".

     3.3. Section 6.04 of the Credit Agreement, entitled "Guaranties,
Indemnities, etc." is hereby amended by deleting the figure "$14,035,819"
appearing in clause (g) thereof and inserting in lieu thereof the figure
"$23,970,030" and by adding, immediately before the period at the end of such
clause (h), the phrase "and such guaranty shall be subject to reduction as
contemplated by paragraph 3 of the Agreement attached as Exhibit A to the Third
Amendment to this Agreement".

                                      -2-
<PAGE>

     3.4. [Intentionally omitted]

     3.5. Section 6.10 of the Credit Agreement, entitled "Dispositions of
Properties", is hereby amended by inserting at the end thereof, after paragraph
(f) thereof, the following sentence:

          It is understood that the issuance by the Borrower of its treasury
          shares of common stock pursuant to the Agreement attached as Exhibit A
          to the Third Amendment to this Agreement shall be deemed not to
          violate this Section 6.10.

     3.6. Section 6.12 of the Credit Agreement, entitled "Dealings with
Affiliates", is hereby amended by inserting at the end thereof, after paragraph
(e) thereof, the following sentence:

          It is understood that the execution, delivery and performance by the
          Borrower of the Agreement attached as Exhibit A to the Third Amendment
          to this Agreement shall be deemed not to violate this Section 6.12.

     3.7. Section 3.15 of the Credit Agreement, entitled "Ownership and
Control", is hereby amended by adding thereto, immediately before the period at
the end of the third sentence thereof, the following clause: "and except for
performance by the Borrower of the Agreement attached as Exhibit A to the Third
Amendment to this Agreement".

     Section 4. Miscellaneous.

     4.1 This Amendment and Waiver shall become effective as of December 31,
2001 upon (i) the execution and delivery hereof by the Required Lenders and the
Borrower (ii) the execution and delivery by the Borrower and the lenders under
the Existing Credit Agreement, as amended, of a waiver and amendment
substantially similar hereto and (iii) the payment by the Borrower to the Agent,
for the respective accounts of Lenders which shall have indicated their consent
to this Amendment and Waiver in writing to the Agent on or before the date of
execution and delivery hereof by the Required Lenders and the Borrower of a
waiver fee in the amount of 50 basis points times the aggregate amount of the
Commitments of each such Lender. By its acceptance hereof, the Borrower agrees
to pay such fee to each Lender which shall have indicated its consent to this
Waiver in writing to the Agent on or before January 29, 2002.

     4.2. The waiver granted by this Amendment and Waiver is limited to the
terms expressly provided herein. No implied waivers shall be inferred by the
execution of this Waiver and the exercise of any right or privilege under this
Waiver shall not affect any right, remedy, power or privilege of the Lenders or
the Agent provided under the Credit Agreement. By its acceptance hereof the
Borrower expressly ratifies and confirms the provisions of the Credit Agreement
and the Credit Agreement (as amended by Section 3 hereof) remains in full force
and effect among the parties thereto.

     4.3 This Amendment and Waiver may be executed in any number of counterparts
and by the different parties hereto on separate counterparts each of which, when
so executed, shall be deemed an original, but all such counterparts shall
constitute but one and the same instrument.

     4.4 By their execution and delivery hereof, the Required Lenders hereby
authorize and direct the Agent to execute and deliver this Amendment and Waiver.

                                      -3-
<PAGE>

     4.5 THIS AMENDMENT AND WAIVER SHALL BE GOVERNED BY, AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO
CHOICE OF LAW PRINCIPLES.

     IN WITNESS WHEREOF, the parties have executed this consent as if the date
first above written.

                                            MELLON BANK, N.A., as Agent

                                            By  /s/ Roger N. Stanier
                                            ------------------------------------
                                            Title:  Vice President

                                            GE CAPITAL CFE, INC.

                                            By  /s/ Michael Lustbader
                                            ------------------------------------
                                            Title:  Duly Authorized Signatory

                                            KREDITANSTALT FUR WIEDERAUFBAU

                                            By  /s/ Werner Schulte
                                            ------------------------------------
                                            Title: First Vice President

                                            By  /s/ Norbert Vay
                                            ------------------------------------
                                            Title: Vice President

                                            STEEL DYNAMICS, INC.

                                            By  /s/ Keith E. Busse
                                            ------------------------------------
                                            Title:  President & Chief Executive
                                                     Officer

                                      -4-<PAGE>
                                                         EXHIBIT 10.1.19.8

                                SECOND AMENDMENT

         THIS SECOND AMENDMENT dated as of February 8, 2002 (this "Amendment")
is to the Amended and Restated Credit Agreement (as heretofore amended, the
"Credit Agreement") dated as of December 22, 2000 among UNITED AUTO GROUP, INC.
(the "Company"), various financial institutions (the "Lenders") and
DAIMLERCHRYSLER SERVICES NORTH AMERICA LLC (formerly Chrysler Financial Company
L.L.C.), as agent for the Lenders (the "Agent"). Unless otherwise defined
herein, terms defined in the Credit Agreement are used herein as defined in the
Credit Agreement.

         WHEREAS, the parties hereto desire to amend the Credit Agreement in
certain respects;

         NOW, THEREFORE, in consideration of the premises and for other good and
valuable consideration (the receipt and sufficiency of which are hereby
acknowledged), the parties hereto agree as follows:

         SECTION 1 AMENDMENTS. Effective on (and subject to the occurrence of)
the Amendment Effective Date (as defined below):

         1.1 The following definitions shall be added to Section 1.1 of the
Credit Agreement, each in its appropriate alphabetical position:

                  DCSNA means DaimlerChrysler Services North America LLC.

                  Second Amendment Effective Date means the "Amendment Effective
         Date" under and as defined in the Second Amendment to this Agreement
         dated as of February 8, 2002.

                  U.K. Acquisition means the acquisition by the U.K. Subsidiary
         of not less than 75% of the shares of the U.K. Target in accordance
         with the U.K. Acquisition Offer.

                  U.K. Acquisition Offer means the offer made by Greenhill & Co.
         International LLP, as financial advisor to the U.K. Subsidiary, on
         behalf of the U.K. Subsidiary, to acquire all of the U.K. Target's
         ordinary shares on the terms and subject to the conditions set forth in
         the press release issued on or about the Second Amendment Effective
         Date, announcing that such financial advisor, on behalf of the U.K.
         Subsidiary, will make an offer to holders of the U.K. Target's ordinary
         shares on the terms and conditions set forth therein and as disclosed
         to the Lenders in connection with the Second Amendment hereto dated as
         of February 8, 2002 except that the Company may waive the requirement
         that the U.K. Subsidiary has received acceptances of at least 90% of
         the shares of the U.K. Target so long as the U.K. Subsidiary has
         received acceptances of at least 75% of the shares of the U.K. Target.

                  U.K. Target means Sytner Group, plc, an English public limited
         company.

<PAGE>

                  U.K. Subsidiary means UAG U.K. Holdings Limited, an entity
         incorporated under the laws of England.

         1.2      Section 6.3(b) of the Credit Agreement shall be amended by
inserting the following "(x) from the Second Amendment Effective Date until 4:00
p.m. (Detroit time) on February 13, 2002, $350,000,000 and (y) at all other
times," immediately prior to the figure "$300,000,000" where it appears in such
Section.

         1.3      Section 9.7 of the Credit Agreement shall be amended by (x)
deleting all text in such Section immediately following the semi-colon at the
end of clause (j) thereof and (y) substituting the following therefor:

                  (k) Floor Plan Financings of the U.K. Target and its
         Subsidiaries (with the floor plan providers that are extending Floor
         Plan Financing to the U.K. Target and its Subsidiaries in the ordinary
         course of business at the time the U.K. Acquisition became effective,
         which Floor Plan Financings were not created in anticipation of the
         U.K. Acquisition);

                  (l) loan notes issued by the U.K. Subsidiary to a holder of
         U.K. Target's shares in connection with the U.K. Acquisition;

                  (m) Indebtedness of the U.K. Target and its Subsidiaries
         existing at the time the U.K. Target becomes a Subsidiary (other than
         Floor Plan Financings), if not incurred by the U.K. Target or any
         Subsidiary thereof in anticipation or contemplation of such Person
         becoming a Subsidiary of the Company, and Refinancing Debt of the U.K.
         Target and its Subsidiaries in respect thereof; and

                  (n) other Debt, in addition to the Debt listed above, in an
         aggregate amount not any time exceeding $20,000,000.

         1.4      Section 9.8 of the Credit Agreement shall be amended by (i)
deleting the word "and" following clause (h) of such Section and (ii) inserting
the following at the end of such Section:

                  (j) Liens securing Debt permitted by Section 9.7(m), provided
         that (i) such Liens secured such Debt at the time of and prior to the
         effectiveness of the U.K. Acquisition and were not granted in
         connection with, or in anticipation or contemplation of, the U.K.
         Acquisition and (ii) such Liens do not extend to or cover any assets or
         properties of the Company and its Subsidiaries other than the property
         or assets that secured the related Debt immediately prior to the
         effectiveness of the U.K. Acquisition; and

                  (k) Liens securing Debt permitted by Section 9.7(l), provided
         that such Liens are limited to assets of the U.K. Subsidiary and its
         Subsidiaries.

                                       2
<PAGE>

         1.5      Section 9.19 of the Credit Agreement shall be amended by (x)
deleting all text in such Section immediately following the semi-colon at the
end of clause (i) thereof and (y) substituting the following therefor:

                  (j) one or more Investments, in an aggregate amount not to
         exceed $152,000,000 (or the equivalent thereof in British pounds
         sterling), in the U.K. Subsidiary, upon consummation of the U.K.
         Acquisition;

                  (k) Investments held by the U.K. Target and its Subsidiaries
         at the time the U.K. Target becomes a Subsidiary (provided that such
         Investments were not made in anticipation or in contemplation of the
         U.K. Acquisition); and

                  (l) such other Investments consented to by the Agent in its
         sole discretion;

         provided that (x) any Investment which when made complies with the
         requirements of the definition of the term "Cash Equivalent Investment
         " may continue to be held notwithstanding that such Investment if made
         thereafter would not comply with such requirements; (y) no Investment
         otherwise permitted by clause (b), (c), (g) or (i) or (j) shall be
         permitted to be made if, immediately before or after giving effect
         thereto, any Event of Default or Unmatured Event of Default exists; and
         (z) other than expressly provided for in clause (j), no Foreign
         Investment shall be permitted to be made after the Second Amendment
         Effective Date (provided that any Foreign Investment made with the
         proceeds of any offering of equity securities or Subordinated Debt of
         the Company shall be permitted after the Second Amendment Effective
         Date).

         1.6      Section 9.20 of the Credit Agreement shall be amended and
restated in its entirety to read as follows:

                  9.20 Restriction of Amendments to Certain Documents. Not amend
         or otherwise modify, or waive any rights under, either Subordinated
         Notes Indenture, the Subordinated Notes or the Approved Swap Documents,
         in any case, if such amendment, modification or waiver could reasonably
         be expected to be adverse to the Lenders in any respect; not take any
         action to terminate any Approved Swap Document if it is a condition to
         such termination that the Company make any payment to the counterparty
         under such Approved Swap Document, or if a consequence of such
         termination would permit such counterparty to retain or sell any
         collateral or to demand any payment from the Company; and not amend or
         otherwise modify, or waive any rights under, the U.K. Acquisition Offer
         without the prior written consent of the Lenders other than the
         condition that requires that the U.K. Subsidiary has received
         acceptances of at least 90% of the shares of the U.K. Target so long as
         the U.K. Subsidiary has received acceptances of at least 75% of the
         shares of the U.K. Target and other than amendments, modifications and
         waivers of the U.K. Acquisition Offer that are not adverse to the
         Lenders.

         1.7      The definition of "Permitted Restriction" in Section 1.1 of
the Credit Agreement shall be amended by adding the following at the end of such
definition:

                                       3
<PAGE>

         ; or (vi) pursuant to any agreements or arrangements in effect on the
         date the U.K. Target becomes a Subsidiary to the extent such
         restrictions relate solely to the U.K. Target and its Subsidiaries, and
         any amendment, modification or replacement of any such agreement or
         arrangement that is not materially more restrictive than those
         contained in the agreements or arrangements in effect on the date the
         U.K. Target becomes a Subsidiary.

         1.8      The Credit Agreement shall be amended by substituting
"DaimlerChrysler Services North America LLC (formerly Chrysler Financial Company
L.L.C.)" and "DCSNA" for each reference to "Chrysler Financial Company L.L.C."
and "CFC" (as applicable) therein.

         SECTION 2 REPRESENTATIONS AND WARRANTIES. The Company represents and
warrants to the Agent and the Lenders that (a) the representations and
warranties made in Section 8 of the Credit Agreement are true and correct on and
as of the Amendment Effective Date with the same effect as if made on and as of
the Amendment Effective Date (except to the extent relating solely to an earlier
date, in which case they were true and correct as of such earlier date); (b) no
Event of Default or Unmatured Event of Default exists or will result from the
execution of this Amendment; (c) no event or circumstance has occurred since the
Effective Date that has resulted, or would reasonably be expected to result, in
a Material Adverse Effect; (d) the execution and delivery by the Company of this
Amendment and the performance by the Company of its obligations under the Credit
Agreement as amended hereby (as so amended, the "Amended Credit Agreement") (i)
are within the corporate powers of the Company, (ii) have been duly authorized
by all necessary corporate action, (iii) have received all necessary approval
from any governmental authority and (iv) do not and will not contravene or
conflict with any provision of any law, rule or regulation or any order, decree,
judgment or award which is binding on the Company or any of its Subsidiaries or
of any provision of the certificate of incorporation or bylaws or other
organizational documents of the Company or of any agreement, indenture,
instrument or other document which is binding on the Company or any of its
Subsidiaries; and (e) the Amended Credit Agreement is the legal, valid and
binding obligation of the Company, enforceable against the Company in accordance
with its terms, except as enforceability may be limited by applicable
bankruptcy, insolvency or similar laws affecting the enforcement of creditors'
rights generally or by equitable principles relating to enforceability.

         SECTION 3 EFFECTIVENESS. The amendments set forth in Section 1 above
shall become effective on such date (the "Amendment Effective Date") when the
Agent shall have received (a) a counterpart of this Amendment executed by the
Company and the Required Lenders (or, in the case of any party other than the
Company from which the Agent has not received a counterpart hereof, facsimile
confirmation of the execution of a counterpart hereof by such party), and (b)
each of the following documents, each in form and substance satisfactory to the
Agent:

         3.1      Reaffirmation. A counterpart of the Reaffirmation of Loan
Documents, substantially in the form of Exhibit A, executed by each Loan Party
other than the Company.

                                       4
<PAGE>

         3.2      Other Documents. Such other documents as the Agent or any
Lender may reasonably request.

         SECTION 4  MISCELLANEOUS.

         4.1      Continuing Effectiveness, etc. As hereby amended, the Credit
Agreement shall remain in full force and effect and is hereby ratified and
confirmed in all respects. After the Amendment Effective Date, all references in
the Credit Agreement, the Notes, each other Loan Document and any similar
document to the "Credit Agreement" or similar terms shall refer to the Amended
Credit Agreement.

         4.2      Counterparts. This Amendment may be executed in any number of
counterparts and by the different parties on separate counterparts, and each
such counterpart shall be deemed to be an original but all such counterparts
shall together constitute one and the same Amendment.

         4.3      Expenses. The Company agrees to pay the reasonable costs and
expenses of the Agent (including reasonable fees and disbursements of counsel,
including, without duplication, the allocable costs of internal legal services
and all disbursements of internal legal counsel) in connection with the
preparation, execution and delivery of this Amendment.

         4.4      Governing  Law. This Amendment shall be a contract  made under
and governed by the laws of the State of New York applicable to contracts made
and to be wholly performed within the State of New York.

         4.5      Successors and Assigns. This Amendment shall be binding upon
the Company, the Lenders and the Agent and their respective successors and
assigns, and shall inure to the benefit of the Company, the Lenders and the
Agent and the successors and assigns of the Lenders and the Agent.

                                       5
<PAGE>

         Delivered as of the day and year first above written.

                                UNITED AUTO GROUP, INC.

                                By: /s/    James R. Davidson
                                    -------------------------------------
                                Title: Executive Vice President - Finance
                                      -----------------------------------

                                DAIMLERCHRYSLER SERVICES NORTH
                                AMERICA LLC (formerly Chrysler Financial
                                Company L.L.C.), as Agent, as Issuing Lender and
                                as a Lender

                                By: /s/    R. D. Knight
                                   --------------------------------------
                                Title:  Vice President
                                      -----------------------------------

                                TOYOTA MOTOR CREDIT CORPORATION,
                                as a Lender

                                By: /s/    Thomas R. Brubaker
                                   --------------------------------------
                                Title:  National Accts. Development Mgr.
                                      -----------------------------------

                                       6
<PAGE>

                                    EXHIBIT A
                            FORM OF REAFFIRMATION OF
                                 LOAN DOCUMENTS

                                February 8, 2002

DaimlerChrysler Services North
America LLC, as Agent
and the Lenders party
to the Amended and Restated Credit Agreement
referred to below
27777 Franklin Road, 25th Floor
Southfield, Michigan 48034
Attn: Michele Nowak

         RE:  REAFFIRMATION OF LOAN DOCUMENTS

Ladies and Gentlemen:

         Please refer to:

         (a)      The Amended and Restated Security Agreement dated as of
December 23, 1999 (the "Security Agreement") among United Auto Group, Inc. (the
"Company"), its subsidiaries and Chrysler Financial Company L.L.C. in its
capacity as Agent (in such capacity, the "Agent");

         (b)      The Guaranty dated as of October 8, 1999 (the "Guaranty")
executed in favor of the Agent and various other parties by all subsidiaries of
the Company; and

         (c)      The Pledge Agreement dated as of October 8, 1999 (the "Pledge
Agreement") executed by the Company and certain of its subsidiaries.

         Each of the undersigned acknowledges that the Company, the Lenders and
the Agent have executed the Second Amendment (the "Second Amendment") to the
Amended and Restated Credit Agreement dated as of December 22, 2000 (as amended,
supplemented or otherwise modified from time to time, the "Credit Agreement").
Capitalized terms not otherwise defined herein have the meanings given in the
Credit Agreement.

<PAGE>

DaimlerChrysler Services North
America LLC, as Agent
February 8, 2002

         Each of the undersigned hereby confirms that the Security Agreement,
the Guaranty, the Pledge Agreement and each other Loan Document to which such
undersigned is a party remains in full force and effect after giving effect to
the effectiveness of the Second Amendment and that, upon such effectiveness, all
references in each Loan Document to the "Credit Agreement" shall be references
to the Credit Agreement, as amended by the Second Amendment.

         This letter agreement may be signed in counterparts and by the various
parties on separate counterparts. This letter agreement shall be governed by the
laws of the State of New York applicable to contracts made and to be performed
entirely within such State.

                                UAG NORTHEAST, INC.
                                DIFEO PARTNERSHIP, INC.
                                UAG HUDSON, INC.
                                SOMERSET MOTORS INC.
                                UAG NORTHEAST BODY SHOP, INC.
                                LANDERS AUTO SALES, INC.
                                LANDERS UNITED AUTO GROUP NO. 2, INC.
                                LANDERS UNITED AUTO GROUP NO. 6, INC.
                                LANDERS BUICK-PONTIAC, INC.
                                LANDERS FORD NORTH, INC.
                                UNITED AUTO GROUP, INC.
                                UAG SOUTHEAST, INC.
                                UAG DULUTH, INC.
                                UNITED NISSAN, INC. (GA)
                                UNITED NISSAN, INC. (NV)
                                UNITED NISSAN, INC. (TN)
                                PEACHTREE NISSAN, INC.
                                UAG WEST, INC.
                                SA AUTOMOTIVE, LTD.
                                SL AUTOMOTIVE, LTD.
                                SPA AUTOMOTIVE, LTD.
                                LRP, LTD.
                                SUN MOTORS, LTD.
                                SCOTTSDALE MANAGEMENT GROUP, LTD.
                                SAU AUTOMOTIVE, LTD.
                                SK MOTORS, LTD.
                                KMT/UAG, INC.
                                RELENTLESS PURSUIT ENTERPRISES, INC.

                                       2
<PAGE>

                                TRI-CITY LEASING, INC.
                                HT AUTOMOTIVE LTD.
                                UAG TEXAS, INC.
                                UAG TEXAS II, INC.
                                UAG EAST, INC.
                                WESTBURY SUPERSTORE, LTD.
                                PALM AUTO PLAZA, INC.
                                FLORIDA CHRYSLER PLYMOUTH, INC.
                                WEST PALM NISSAN, INC.
                                WEST PALM INFINITI, INC.
                                NORTHLAKE AUTO FINISH, INC.
                                JS IMPORTS, INC.
                                WEST PALM AUTO MALL, INC.
                                AUTO MALL PAYROLL SERVICES, INC.
                                UAG CAROLINA, INC.
                                REED-LALLIER CHEVROLET, INC.
                                MICHAEL CHEVROLET-OLDSMOBILE, INC.
                                GENE REED CHEVROLET, INC.
                                UNITEDAUTO DODGE OF SHREVEPORT,
                                 INC.
                                COVINGTON PIKE DODGE, INC.
                                THE NEW GRACELAND DODGE, INC.
                                UAG GRACELAND II, INC.
                                UAG MEMPHIS II, INC.
                                UAG MEMPHIS IV, INC.
                                UAG MEMPHIS V, INC.
                                UAG-CARIBBEAN, INC.
                                DAN YOUNG CHEVROLET INC.
                                YOUNG MANAGEMENT GROUP, INC.
                                UAG YOUNG II, INC.
                                UAG PARAMOUNT MOTORS, INC.
                                UAG KISSIMMEE MOTORS, INC.
                                UAG CLASSIC, INC.
                                CLASSIC AUTO GROUP, INC.
                                UAG CHCC, INC.
                                CLASSIC MANAGEMENT COMPANY, INC.
                                UAG CHEVROLET, INC.
                                CLASSIC IMPORTS, INC.
                                UNITED AUTOCARE, INC.
                                UNITED AUTOCARE PRODUCTS, INC.
                                UNITEDAUTO FOURTH FUNDING INC.
                                UNITEDAUTO FIFTH FUNDING INC.
                                UAG FINANCE COMPANY, INC.
                                CLASSIC MOTOR SALES LLC
                                D. YOUNG CHEVROLET LLC

                                       3
<PAGE>

                                DAN YOUNG MOTORS LLC
                                UAG YOUNG AUTOMOTIVE GROUP LLC
                                YOUNG AUTOMOTIVE HOLDINGS LLC
                                EUROPA AUTO IMPORTS, INC.
                                UAG LAKE NORMAN, LLC
                                UAG INDIANAPOLIS, LLC
                                MOTORCARS ACQUISITION, LLC
                                MOTORCARS ACQUISITION II, LLC
                                MOTORCARS ACQUISITION III, LLC
                                SCOTTSDALE FERRARI, LLC
                                UAG OLDSMOBILE OF INDIANA, LLC
                                ATLANTIC AUTO FUNDING CORPORATION
                                ATLANTIC AUTO SECOND FUNDING
                                CORPORATION
                                ATLANTIC AUTO THIRD FUNDING
                                CORPORATION
                                GOODSON NORTH, LLC
                                GOODSON PONTIAC GMC, LLC
                                GOODSON SPRING BRANCH, LLC
                                PIONEER FORD WEST, LLC
                                UAG CERRITOS, LLC
                                UAG CONNECTICUT, LLC
                                UAG CONNECTICUT I, LLC
                                UAG FAIRFIELD CA, LLC
                                UAG FAIRFIELD CM, LLC
                                UAG FAIRFIELD CP, LLC
                                UAG FAIRFIELD CV, LLC
                                UAG HOUSTON ACQUISITION, LLC
                                UAG INTERNATIONAL HOLDINGS, INC.
                                UAG LANDERS SPRINGDALE, LLC
                                UAG MENTOR ACQUISITION, LLC
                                UAG MICHIGAN CADILLAC, LLC
                                UAG MICHIGAN PONTIAC-GMC, LLC
                                UAG ATLANTA IV MOTORS, INC.
                                UAG MICHIGAN T1, LLC
                                UAG MICHIGAN TMV, LLC
                                UAG PHOENIX VC, LLC
                                UAG REALTY, LLC
                                UAG SPRING, LLC
                                UNITED AUTO FINANCE, INC.

                                        4
<PAGE>

                                UNITED RANCH AUTOMOTIVE, LLC
                                BRETT MORGAN CHEVROLET -- GEO, INC.
                                H.B.L., INC.
                                MOTORCARS ACQUISITION IV, LLC
                                UAG NANUET I, LLC
                                UAG NANUET II, LLC
                                NISSAN OF NORTH OLMSTED, LLC
                                LANDERS NISSAN, LLC
                                UAG TULSA HOLDINGS, LLC
                                UAG FAYETTEVILLE I, LLC
                                UAG FAYETTEVILLE II, LLC
                                UAG FAYETTEVILLE III, LLC

                                  By: /s/  James R. Davidson
                                   ------------------------------------
                                           Title:  Asst. Treasurer
                                                 ------------------------------

                                  DIFEO HYUNDAI PARTNERSHIP
                                  DIFEO NISSAN PARTNERSHIP
                                  DIFEO CHRYSLER PLYMOUTH JEEP EAGLE
                                  PARTNERSHIP
                                  DIFEO LEASING PARTNERSHIP
                                  DANBURY AUTO PARTNERSHIP
                                  DIFEO TENAFLY PARTNERSHIP
                                  OCT PARTNERSHIP
                                  HUDSON MOTORS PARTNERSHIP
                                  COUNTY AUTO GROUP PARTNERSHIP
                                  SOMERSET MOTORS PARTNERSHIP

                                  By: DIFEO PARTNERSHIP, INC.
                                      a general partner

                                  By: /s/   James R. Davidson
                                   ------------------------------------
                                           Title:  Asst. Treasurer
                                                 ------------------------------

                                       5
<PAGE>

                                SHANNON AUTOMOTIVE, LTD.
                                By: UAG TEXAS, INC.
                                    a general partner

                                By: /s/     James R. Davidson
                                   ----------------------------------
                                         Title:  Asst. Treasurer
                                               --------------------------------

                                UAG CITRUS MOTORS, LLC
                                By: UAG CITRUS, INC.
                                    Member

                                By: /s/     James R. Davidson
                                   ----------------------------------
                                         Title:  Asst. Treasurer
                                               --------------------------------

                                CLASSIC ENTERPRISES, LLC
                                CLASSIC NISSAN OF TURNERSVILLE, LLC

                                By: UAG CLASSIC, INC.
                                    Member

                                By: /s/     James R. Davidson
                                   ----------------------------------
                                         Title:  Asst. Treasurer
                                               --------------------------------

                                LANDERS FORD, INC
                                NATIONAL CITY FORD, INC.
                                CENTRAL FORD CENTER, INC.
                                PIONEER FORD SALES, INC.

                                By: /s/     James R. Davidson
                                   ----------------------------------
                                         Title:  Asst. Treasurer
                                               --------------------------------

                                       6

<PAGE>

ACKNOWLEDGED AND AGREED
as of the date first written above

DAIMLERCHRYSLER SERVICES NORTH
AMERICA, LLC, as Agent

By: /s/    R. D. Knight
   ----------------------------------
Title:  Vice President
      -----------------------------

                                       7

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