“The amount of time PFC has been in business plays a big factor in my ability to effectively sell to my customers – that they’ll be there to service the loan, and be there the next time our customer wants to replace a truck,” said Clay Madden, director of finance for Performance Kenworth in Houston. “So many times, finance companies come and go. As a finance manager you can’t always promise that the loan you’re placing will be serviced until the end of the loan.  We’ve just seen so many finance companies go out of business. As our captive finance company, our customer can feel confident with PFC that they’re going to be there even when the industry goes into a downturn.”

According to Gary Carlson, president and founder of Select 1 Transport, how a financial group responds in times of uncertainty is a barometer for future success.

“During the middle of last year, we had some growth we were concerned about and how we were going to fund that growth,” recalled Carlson, whose company specializes in automotive transport, event marketing, and managed global logistics. “We picked up the phone, gave PFC a call and said, ‘here’s what we are thinking of doing. We’d like to change our truck financing a little bit.’ Without hesitation, they worked with us. Obviously we showed them a good, well-thought-out proposal and it allowed them to work with us on a refinancing package. That will go a long way for us over the years to come.”

Hubbard said a finance source shows its true colors when the industry goes through its cyclical up and downs. “Banks and independent finance companies come and go,” he added.  “They tend to emerge during the booms in the industry, but disappear or tighten their belts during the down times.  The one thing constant about PFC, is we’re constant.   We’re always there and a part of the proposition of buying a Kenworth or Peterbilt truck.”

A valued partner is how Jon Vinje, president of Halvor Lines in Superior, Wis.,. views his relationship with PFC.

“We have some relationships with local banks, which are necessary for our business,” said Vinje. “But for our tractors, we pride ourselves on our equipment, and we need a good financial partner for equipment acquisition. PACCAR Financial provides the financial resources to make us successful. And, I feel very comfortable with PFC — they continue to support our business. More importantly, I value their partnership with us even more after going through the economic downturn. They understood the different business cycles that we go through with the economy and trucking industry – something local banks just don’t understand.”

Through its history, PFC has been known for offering comprehensive finance and lease packages to better serve its customers.  These include special promotions such as bundling “no-cost” extended warranty offers in the finance package.  “That’s something banks can’t offer,” said Hubbard.

“PFC certainly does have innovative programs,” echoed Bob Gentry, president of Peterbilt of New Hampshire.  “In addition to standard finance and more creative lease packages, they do extended terms, skip payments for our construction customers, and on the medium-duty side, they’ve been very aggressive with creative financing.  The special Medium Duty Combo program they offer blends a 4.99 percent interest rate with an extended warranty and is extremely helpful.  The majority of my business over the past several months was due to that program.”