**Exhibit 12(a)**

 

**PACCARFinancial Corp.**

 

**COMPUTATIONOF RATIO OF EARNINGS TO FIXED CHARGES**

 

**PURSUANTTO SEC REPORTING REQUIREMENTS (1)**

(Millionsof Dollars)

 
| ** **                          | ** ** | **Year ended December 31** | ** ** |
|-------------------------------------|------------|-------------------------------------------|------------|
| ** **                          | ** ** | **2007**                                  | ** ** | 2006 |   | 2005 |   | 2004 |   | 2003 |   |
|                                |       |                                      |       |   |   |   |   |   |   |   |   |
| FIXED CHARGES                       |       |                                      |       |   |   |   |   |   |   |   |   |
| Interest expense                    | ** ** | **$**                                     | **199.0**  |   | $ | 163.9 |   | $ | 101.2 |   | $ | 67.9 |   | $ | 78.8 |   |
|                                |       |                                      |       |   |   |   |   |   |   |   |   |
| Portion of  rentals deemed interest | ** ** | **1.6**                                   |       | 1.5 |   | 1.4 |   | 1.4 |   | 1.3 |   |
|                                |       |                                      |       |   |   |   |   |   |   |   |   |
| TOTAL FIXED  CHARGES                | ** ** | **$**                                     | **200.6**  |   | $ | 165.4 |   | $ | 102.6 |   | $ | 69.3 |   | $ | 80.1 |   |
|                                |       |                                      |       |   |   |   |   |   |   |   |   |
| EARNINGS                            |       |                                      |       |   |   |   |   |   |   |   |   |
| Income before  taxes                | ** ** | **$**                                     | **133.4**  |   | $ | 136.3 |   | $ | 120.0 |   | $ | 111.4 |   | $ | 78.1 |   |
|                                |       |                                      |       |   |   |   |   |   |   |   |   |
| FIXED CHARGES                       | ** ** | **200.6**                                 |       | 165.4 |   | 102.6 |   | 69.3 |   | 80.1 |   |
|                                |       |                                      |       |   |   |   |   |   |   |   |   |
| EARNINGS AS  DEFINED                | ** ** | **$**                                     | **334.0**  |   | $ | 301.7 |   | $ | 222.6 |   | $ | 180.7 |   | $ | 158.2 |   |
|                                |       |                                      |       |   |   |   |   |   |   |   |   |
| RATIO OF  EARNINGS TO FIXED CHARGES | ** ** | **1.67x**                                 | ** ** | 1.82x |   | 2.17x |   | 2.61x |   | 1.98x |   |

 
| (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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