Exhibit 12(b)

PACCAR Financial Corp.

COMPUTATION OF RATIO OF
EARNINGS TO FIXED CHARGES

PURSUANT TO THE SUPPORT AGREEMENT

BETWEEN THE COMPANY AND PACCAR

(Millions of Dollars)



|                                   |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|---------------------------------- |  | ---------------------- | ----- | ---- | - | ----- |  | ---- | ----- | ---- | - | ----- |  | - | -----
|                                   |  | Year ended December 31
|                                   |  | 2009                   |       | 2008 |   | 2007  |  | 2006 |       | 2005
|FIXED CHARGES                      |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|Interest expense                   |  | $                      | 126.2 |      | $ | 160.1 |  | $    | 199.0 |      | $ | 163.9 |  | $ | 101.2
|Facility and equipment rental      |  |                        | 2.1   |      |   | 2.3   |  |      | 2.1   |      |   | 2.0   |  |   | 1.9  
|                                   |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|                                   |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|TOTAL FIXED CHARGES                |  | $                      | 128.3 |      | $ | 162.4 |  | $    | 201.1 |      | $ | 165.9 |  | $ | 103.1
|                                   |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|                                   |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|EARNINGS                           |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|Income before taxes                |  | $                      | 44.8  |      | $ | 71.6  |  | $    | 133.4 |      | $ | 136.3 |  | $ | 120.0
|Depreciation                       |  |                        | 121.5 |      |   | 107.5 |  |      | 90.3  |      |   | 79.2  |  |   | 68.3 
|                                   |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|                                   |  |                        | 166.3 |      |   | 179.1 |  |      | 223.7 |      |   | 215.5 |  |   | 188.3
|                                   |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|FIXED CHARGES                      |  |                        | 128.3 |      |   | 162.4 |  |      | 201.1 |      |   | 165.9 |  |   | 103.1
|                                   |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|                                   |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|EARNINGS AS DEFINED                |  | $                      | 294.6 |      | $ | 341.5 |  | $    | 424.8 |      | $ | 381.4 |  | $ | 291.4
|                                   |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|                                   |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |      
|RATIO OF EARNINGS TO FIXED CHARGES |  |                        | 2.30x |      |   | 2.10x |  |      | 2.11x |      |   | 2.30x |  |   | 2.83x
|                                   |  |                        |       |      |   |       |  |      |       |      |   |       |  |   |