WASHINGTON, D.C. 20549

                                   FORM 12b-25

(Check One)    [ ]  Form 10-K    [ ]  Form 20-F     [ ]  Form 11-K
               [X]  Form 10-Q    [ ]  Form N-SAR

               For the Period Ended      July 31, 2001

[ ]  Transition Report on Form 10-K
[ ]  Transition Report on Form 20-F
[ ]  Transition Report on Form 11-K
[ ]  Transition Report on Form 10-Q
[ ]  Transition Report on Form N-SAR

     For the Transition Period Ended

Read Instructions (on back page) Before Preparing Form. Please Print or Type.


If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:     N/A

                         PART I - REGISTRANT INFORMATION

        (Full Name of Registrant)

       (Former Name if Applicable)

     555 Madison Avenue, 29th Floor
(Address of principal executive offices)

        New York, New York 10022
       (City, State and Zip Code)

                        PART II - RULES 12B-25(B) AND (C)

If the subject report could not be filled without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)

[ ]  (a) The reasons described in reasonable detail in Part III of this form
     could not be eliminated without unreasonable effort or expense;

[X]  (b) The subject annual report, semi -annual report, transition report on
     Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof, will be filed
     on or before the fifteenth calendar day following the prescribed due date;
     or the subject quarterly report on Form 10-Q, or portion thereof will be
     filled on or before the fifth calendar day following the prescribed due
     date; or

[ ]  (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
     has been attached if applicable

                              PART III - NARRATIVE

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-F 10-Q,
N-SAR, or the transition report portion thereof, could not be filed within the
prescribed time period.

     The Company's access to its corporate offices, professional resources, both
     internal and external, and personnel have been significantly limited and/or
     disrupted as a result of the tragedy at the World Trade Center in lower
     Manhattan on September 11, 2001. The Company's offices, though located in
     "mid-town" Manhattan, have been impacted, as many New York-based
     businesses, by closures, restrictions and/or interruptions of traditional
     transportation systems, communication networks and building access. As a
     result of these events, the Company requires additional time to complete
     its preparation of its Form 10-Q for the period ended July 31, 2001.

                           PART IV - OTHER INFORMATION

     (1)  Name and telephone number of person to contact in regard to this

     Robert V. Cuddihy, Jr.                 212               644-1400
     ----------------------                 ---               --------
            (Name)                       (Area Code)     (Telephone Number)

     (2)  Have all other periodic reports required under Section 13 or 15(d) of
          the Securities Act of 1934 or Section 30 of the Investment Company Act
          of 1940 during the preceding 12 months or for such shorter period that
          the registrant was required to file such report(s) been filed. If
          answer is no, identify report(s). [ X ] Yes [ ] No

     (3)  Is it anticipated that any significant change in results of operations
          from the corresponding period for the last fiscal year will be
          reflected by the earnings statements to be included in the subject
          report or portion thereof? [ X ] Yes [ ] No

          If so, attach an explanation of the anticipated change, both
          narratively and quantitatively, and, if appropriate, state the reasons
          why a reasonable estimate of the results cannot be made.

                    The Registrant reported a net loss of $5.9 million for the
                    six months ended July 31, 2000. It is currently anticipated
                    that for the six months ended July 31, 2001 the Registrant
                    will report a net loss of $5.1 million.

                           NATIONAL AUTO CREDIT, INC.
                  (Name of Registrant as Specified in Charter)

          has caused this notification to be signed on its behalf by the
          undersigned hereunto duly authorized

          Date   September 14, 2001            By /s/ Robert V. Cuddihy, Jr.
                 ------------------               ----------------------------
                                                    Chief Financial Officer

          INSTRUCTION: The form may be signed by an executive officer of the
          registrant or by any other duly authorized representative. The name
          and title of the person signing the form shall be typed or printed
          beneath the signature. If the statement is signed on behalf of the
          registrant by an authorized representative (other than an executive
          officer), evidence of the representative's authority to sign on behalf
          of the registrant shall be filed with the form.