This PURCHASE AGREEMENT is made as of this 1st day of July 1997, by and between ASTA FUNDING,
INC., a Delaware corporation (the "Seller"), having its principal executive office at 210 Sylvan Avenue,
Englewood Cliffs, New Jersey 07632 and ASTA AUTO RECEIVABLES COMPANY, a Delaware
corporation (the "Purchaser"), having its principal executive office at 210 Sylvan Avenue, Englewood Cliffs, New
1. In the regular course of its business, the Seller purchases from motor vehicle dealers and services certain motor
vehicle retail installment loan contracts and promissory notes secured by new and used automobiles and light duty
2. The Seller desires to sell, and the Purchaser desires to purchase, Receivables (as hereinafter defined) pursuant
to the terms and conditions of this Agreement.
3. The Receivables to be sold subsequently hereunder will be sold by the Purchaser pursuant to the Pooling and
Servicing Agreement (as hereinafter defined) to the Asta Auto Trust 1997-1 to be created thereunder, in
consideration of certificates issued by the Trust which represent beneficial ownership interests in the Trust (the
4. The Purchaser will sell to Greenwich Capital Markets, Inc. for cash 100% of the principal amount of the Class
A Certificates and Class B Certificates.
NOW, THEREFORE, in consideration of the foregoing, and other good and valuable consideration, and the
mutual terms and covenants contained herein, the parties hereto agree as follows:
Terms not defined in this Agreement shall have the meaning set forth in the Pooling and Servicing Agreement. As
used in this Agreement, the following terms shall, unless the context otherwise requires, have the following
meanings (such meanings to be equally applicable to the singular and plural forms of the terms defined):
"Agreement" shall mean this Purchase Agreement and all amendments hereof and supplements hereto.