PACCAR FINANCIAL CORP
424B3, 1995-01-20
SHORT-TERM BUSINESS CREDIT INSTITUTIONS
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<PAGE>   1
                                        Filed pursuant to Rule 424(b)(3)
                                                       File No. 33-51335

SUPPLEMENT NO. 21 TO PROSPECTUS DATED DECEMBER 14, 1993
(AS SUPPLEMENTED DECEMBER 15, 1993)

                            PACCAR FINANCIAL CORP.

                         MEDIUM-TERM NOTES, SERIES G

               DUE FROM 9 MONTHS TO 10 YEARS FROM DATE OF ISSUE

       INTEREST PAYABLE EACH MARCH 15 AND SEPTEMBER 15 AND AT MATURITY

                                                      INTEREST RATE
RANGE OF MATURITIES                                     PER ANNUM
- -------------------                                   -------------

From 24 months to 36 months...................          7.94%

More than 36 months to 39 months..............          8.03%

More than 39 months to 48 months..............          8.06%

More than 48 months to 60 months..............          8.11%





Dated: January 18, 1995

Form of Note (check one):       Book Entry      [X]
                                Certificated    [ ]

In some instances, one of more of the Agents have purchased the Notes as
principal and may resell the Notes at preices to be determined by such Agents
at the time of resale.


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