EXHIBIT 23.1


                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
     We consent to the inclusion in this registration statement on Form S-1
(File No. 333-      ) of our report dated March 26, 1997, on our audits of the
consolidated financial statements and financial statement schedule of
AutoBond Acceptance Corporation and Subsidiaries. We also consent to the
references to our firm under the captions 'Experts' and 'Selected Financial
Data.'
 
                                          COOPERS & LYBRAND L.L.P.
 
Austin, Texas
November 28, 1997