<PAGE>

                NAVISTAR FINANCIAL CORPORATION
                       AND SUBSIDIARIES
                               
                                                     Exhibit 24
                       POWER OF ATTORNEY

    Each person whose signature appears below does hereby make,
constitute  and appoint John J. Bongiorno, Phyllis  E.  Cochran
and William W. Jones and each of them acting individually, true
and  lawful  attorneys-in-fact and agents  with  power  to  act
without the other and with full power of substitution,  to  exe
cute, deliver and file, for and on such person's behalf, and in
such  person's name and capacity or capacities as stated below,
any  amendment, exhibit or supplement to the Form  10-K  Report
making  such  changes  in the report as  such  attorney-in-fact
deems appropriate.


                          SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act
of  1934,  this  report has been signed below by the  following
persons  on behalf of the registrant and in the capacities  and
on the dates indicated:

<TABLE>
<CAPTION>
                                
    Signature                      Title                          Date
<S><C>                    <C>                                <C>
/s/JOHN J. BONGIORNO      President and Chief Executive      January 22, 1997
   John J. Bongiorno      Officer; Director          
                          (Principal Executive Officer)
                                                
/s/R. WAYNE CAIN          Vice President and Treasurer;      January 22, 1997
   R. Wayne Cain          Director                   
                          (Principal Financial Officer)
                                                
/s/PHYLLIS E. COCHRAN     Vice President and Controller;     January 22, 1997
   Phyllis E. Cochran     Director                   
                          (Principal Accounting Officer)
                                                
/s/JORDAN H. FEIGER       Vice President, Operations;        January 22, 1997
   Jordan H. Feiger       Director                   

                                                
/s/JOHN R. HORNE          Director                           January 22, 1997
   John R. Horne                                

                                                
/s/THOMAS M. HOUGH        Director                           January 22, 1997
   Thomas M. Hough                              
</TABLE>
<PAGE>
                                 
                NAVISTAR FINANCIAL CORPORATION
                       AND SUBSIDIARIES
                               

                    SIGNATURES (Continued)

<TABLE>
<CAPTION>
    Signature                      Title                         Date
<S><C>                    <C>                               <C>
/s/ROBERT C. LANNERT      Director                          January 22, 1997
   Robert C. Lannert                       
                                           
                                           
/s/J. STEVEN KEATE        Director                          January 22, 1997
   J. Steven Keate                         
                                           
                                           
/s/THOMAS D. SILVER       Director                          January 22, 1997
   Thomas D. Silver                        
</TABLE>