AMENDMENT TO
                               GUARANTY AGREEMENT

         THIS AMENDMENT TO SECURITY  AGREEMENT,  made and entered into this 23rd
day of  January,  1998,  by and  between  Eckler  Industries,  Inc.,  a  Florida
corporation   ("Borrowers"),   and  Stephens   Inc.,  an  Arkansas   corporation
("Holder"),

                                   WITNESSETH:

         WHEREAS,  borrower and Holder have  entered  into a Guaranty  Agreement
dated as of September 30, 1997 (the "Guaranty Agreement");

         WHEREAS,  the Holder is funding a loan to the Borrower in the principal
amount of $3 million  which will be evidenced by a Promissory  Note of even date
herewith (the "$3,000,000 Note"),

         WHEREAS,  the  Borrower  and  the  Holder  intend  for  the  Note to be
guaranteed under the Guaranty Agreement.

         NOW THEREFORE,  in consideration of the premises and the agreements set
forth herein, the parties hereto agree as follows:

     1.  Obligations.  Section 2 of the Guaranty  Agreement is hereby amended to
provide an additional subsection (g), as follows:

                  (g)      The  term  "Note"  in the  Guaranty  Agreement  shall
                           include  the  $3,000,000  Note and the term "Loan" in
                           the  Guaranty   Agreement   shall  include  the  loan
                           evidence by the $3,000,000 Note.

     2.  Representations and Warranties.  The representations and warranties set
forth in the Guaranty Agreement are true and correct as of the date hereof as if
made on the date hereof; provided that the Borrower has granted a second lien on
the assets of Borrower to the Huntington National Bank  ("Huntington")  pursuant
to that certain Security  Agreement dated November 3, 1997, between Borrower and
Huntington.

     3. Effective  Amendment.  Except as amended hereby,  the Guaranty Agreement
shall remain in full force and effect.

     IN WITNESS WHEREOF,  the undersigned have executed this Agreement as of the
date first above written.

                                            BORROWER:

                                            Eckler Industries, Inc.

                                            By:/s/ James Neal Hutchinson, Jr.
                                            ---------------------------------
                                            Title: Vice President

                                            HOLDER:

                                            Stephens Inc.
                                            By: /s/ Curt Bradbury
                                            ----------------------
                                            Title: Chief Operating Officer