Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
MEYERS THOMAS C
  2. Issuer Name and Ticker or Trading Symbol
ONYX ACCEPTANCE CORP [ONYX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
27051 TOWNE CENTRE DRIVE
3. Date of Earliest Transaction (Month/Day/Year)
01/11/2005
(Street)

FOOTHILLS RANCH, CA 92610
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/11/2005   X(2)   7,000 A $ 5.06 11,000 D  
Common Stock 01/11/2005   X(2)   7,000 A $ 3.76 18,000 D  
Common Stock 01/11/2005   X(2)   5,000 A $ 11.75 23,000 D  
Common Stock 01/11/2005   X(2)   7,000 A $ 4.75 30,000 D  
Common Stock 01/11/2005   X(2)   7,000 A $ 4.25 37,000 D  
Common Stock 01/11/2005   X(2)   10,000 A $ 10.5 47,000 D  
Common Stock 01/11/2005   X(2)   7,000 A $ 7.88 54,000 D  
Common Stock 01/11/2005   D(1)   54,000 D $ 28 0 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (right to purchase) $ 5.06 01/11/2005   X(2)     7,000   (2) 05/29/2013 Common Stock 7,000 $ 0 0 D  
Stock Options (right to purchase) $ 3.76 01/11/2005   X(2)     7,000   (2) 06/19/2012 Common Stock 7,000 $ 0 0 D  
Stock Options (right to purchase) $ 11.75 01/11/2005   X(2)     5,000   (2) 01/02/2014 Common Stock 5,000 $ 0 0 D  
Stock Options (right to purchase) $ 4.75 01/11/2005   X(2)     7,000   (2) 05/31/2011 Common Stock 7,000 $ 0 0 D  
Stock Options (right to purchase) $ 4.25 01/11/2005   X(2)     7,000   (2) 05/31/2010 Common Stock 7,000 $ 0 0 D  
Stock Options (right to purchase) $ 10.5 01/11/2005   X(2)     10,000   (2) 05/22/2008 Common Stock 10,000 $ 0 0 D  
Stock Options (right to purchase) $ 7.88 01/11/2005   X(2)     7,000   (2) 05/27/2009 Common Stock 7,000 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MEYERS THOMAS C
27051 TOWNE CENTRE DRIVE
FOOTHILLS RANCH, CA 92610
  X      

Signatures

 C. THOMAS MEYERS by DON P. DUFFY, ATTORNEY-IN-FACT   01/13/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The shares of common stock were disposed of pursuant to the Agreement and Plan of Merger by and among Capital One Auto Finance, Inc., Foothill Services Corporation and Onyx Acceptance Corporation, dated as of September 20, 2004, in exchange for cash equal to $28.00 per share.
(2) The options, to the extent not already vested, were deemed vested and exercisable immediately prior to the effectiveness of the merger of Foothill Services Corporation with and into Onyx Acceptance Corporation (the "Effective Time"). The options were deemed exercised immediately prior to the Effective Time.

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