EXHIBIT 23.1
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
   
     We consent to the inclusion in this Registration Statement on Amendment No.
3  to Form  S-1 (File No.  333-05359) of  our report dated  May 1,  1996, on our
audits of the consolidated financial statements and financial statement schedule
of AutoBond Acceptance Corporation. We also consent to the reference to our firm
under the caption 'Experts.'
    
 
                                          COOPERS & LYBRAND L.L.P.
 
   
Austin, Texas
September 27, 1996