FODEN last year acknowledged the fact that it needed a
Page 36
If you've noticed an error in this article please click here to report it so we can fix it.
company-backed finance scheme to help market penetration. So last May it established Paccar Financial as a "captive", wholly owned subsidiary of Paccar UK. It operates via the Foden dealers although some still retain their previous links with other finance houses.
Paccar Financial provides HP and leasing funds and managing director Ken Badger told me that it is looking at a more extensive form of operational leasing. He said that the number one priority of Paccar Financial is to sell more vehicles, followed by the need to make a profit from the finance charges in the process.
Funds are available for any new Foden or used vehicles sold by the Foden dealers in short, said Ken Badger: "Anything that moves Fodens." On price and terms he said that Paccar Financial is "competitive with other sources of finance."