PACCAR FINANCIAL CORP
424B3, 1997-03-27
SHORT-TERM BUSINESS CREDIT INSTITUTIONS
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                                 Filed pursuant to Rule 424(b)(3)
                                               File No. 333-01623



SUPPLEMENT NO. 20 TO PROSPECTUS DATED MARCH 15, 1996

(AS SUPPLEMENTED MARCH 15, 1996)


                    PACCAR Financial Corp.

                 Medium-Term Notes, Series H

         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 40 months to 45 months..............................6.79%

More than 45 months to 50 months.........................6.85%



Dated:  March 26, 1997


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

                            Certificated  [ ]


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



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