EXHIBIT 12(a)

FORM 10-Q

PACCAR FINANCIAL CORP.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

PURSUANT TO SEC REPORTING REQUIREMENTS(1)

(Millions of
Dollars)



|                                   |  |                               |       |      |   |      
|---------------------------------- |  | ----------------------------- | ----- | ---- | - | -----
|                                   |  | Nine Months EndedSeptember 30
|                                   |  | 2009                          |       | 2008
|FIXED CHARGES                      |  |                               |       |      |   |      
|Interest expense                   |  | $                             | 99.0  |      | $ | 122.4
|Portion of rentals deemed interest |  |                               | 1.3   |      |   | 1.3  
|                                   |  |                               |       |      |   |      
|                                   |  |                               |       |      |   |      
|TOTAL FIXED CHARGES                |  | $                             | 100.3 |      | $ | 123.7
|                                   |  |                               |       |      |   |      
|                                   |  |                               |       |      |   |      
|EARNINGS                           |  |                               |       |      |   |      
|Income before income taxes         |  | $                             | 30.1  |      | $ | 51.4 
|Fixed charges                      |  |                               | 100.3 |      |   | 123.7
|                                   |  |                               |       |      |   |      
|                                   |  |                               |       |      |   |      
|EARNINGS AS DEFINED                |  | $                             | 130.4 |      | $ | 175.1
|                                   |  |                               |       |      |   |      
|                                   |  |                               |       |      |   |      
|RATIO OF EARNINGS TO FIXED CHARGES |  |                               | 1.30X |      |   | 1.42X
|                                   |  |                               |       |      |   |      



|(1) | The method of computing the ratio of earnings to fixed charges shown above complies with SEC reporting requirements but differs from the method called for in the
Support Agreement between the Company and PACCAR as shown in Exhibit 12(b).
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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EXHIBIT 12(b)

FORM 10-Q

PACCAR FINANCIAL CORP.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

PURSUANT TO THE SUPPORT AGREEMENT

BETWEEN THE COMPANY AND
PACCAR

(Millions of Dollars)



|                                   |  |                               |       |      |   |      
|---------------------------------- |  | ----------------------------- | ----- | ---- | - | -----
|                                   |  | Nine Months EndedSeptember 30
|                                   |  | 2009                          |       | 2008
|FIXED CHARGES                      |  |                               |       |      |   |      
|Interest expense                   |  | $                             | 99.0  |      | $ | 122.4
|Facility and equipment rental      |  |                               | 1.6   |      |   | 1.6  
|                                   |  |                               |       |      |   |      
|                                   |  |                               |       |      |   |      
|TOTAL FIXED CHARGES                |  | $                             | 100.6 |      | $ | 124.0
|                                   |  |                               |       |      |   |      
|                                   |  |                               |       |      |   |      
|EARNINGS                           |  |                               |       |      |   |      
|Income before taxes                |  | $                             | 30.1  |      | $ | 51.4 
|Depreciation                       |  |                               | 87.1  |      |   | 76.2 
|                                   |  |                               |       |      |   |      
|                                   |  |                               | 117.2 |      |   | 127.6
|                                   |  |                               |       |      |   |      
|FIXED CHARGES                      |  |                               | 100.6 |      |   | 124.0
|                                   |  |                               |       |      |   |      
|                                   |  |                               |       |      |   |      
|EARNINGS AS DEFINED                |  | $                             | 217.8 |      | $ | 251.6
|                                   |  |                               |       |      |   |      
|                                   |  |                               |       |      |   |      
|RATIO OF EARNINGS TO FIXED CHARGES |  |                               | 2.17X |      |   | 2.03X
|                                   |  |                               |       |      |   |