Consistent Financing Options
PACCAR Financial Offers Trans-System Inc. Consistent Financing Options - May 2013

When Gary King looks for truck financing options for his company, he wants a lender who has expertise in the trucking industry.

The chief financial officer of Spokane, Wash-based Trans-System Inc. said he has appreciated and received consistency from PACCAR Financial. And that’s why the for-hire company has continued to work with the captive financing company for Kenworth and Peterbilt for 30 years, King said.

“Consistency is something we haven’t always seen from our other financing providers,” King said. “They’re not always in the market to provide us truck financing options. PACCAR Financial has been with us when we’ve grown the fleet and when things have been more challenging.”

Consistency is something that’s been critical as the company has grown over the years from a one truck and trailer hauling operation established by Jim Williams in 1972. Today, Trans-System Inc. operates three trucking divisions, System Transport, TWT Refrigerated Service and James J Williams Bulk Service Transport. TWT Refrigerated Service and System Transport are based in Spokane, while James J Williams Bulk Service Transport is based in Longview, Wash.

System Transport’s longhaul trucks and flatbed trailers generally haul equipment, manufactured goods, such as aluminum telephone poles, and various wood products. James J Williams hauls fertilizers, chemicals and food-grade products. TWT Refrigerated Service hauls meats and other refrigerated foods.

Together the divisions finance 148 Kenworth T660s and 80 Peterbilt trucks through PACCAR Financial and acquired them through Kenworth Sales of Spokane and Western Peterbilt in Spokane, Wash.

“By working with PACCAR Financial, we’re able to continually invest in new truck technology to earn and keep our reputation for dependable service,” King said. “They’ve provided us different financing packages that adapt to our changing needs as we’ve grown over the years.

“Sometimes it’s been more cost-effective for us to use a TRAC lease since PACCAR Financial keeps the depreciation and passes the benefit on to us,” King said. “PACCAR Financial maintains the residual value, and then adjusts the terms according to our needs and that has kept things simpler for our company’s accounting. But as we’ve gotten larger, we’ve found that we want and need to have the ability to depreciate the equipment, so we’re now using more conventional financing through PACCAR Financial.”

King also finds that with PACCAR Financial, titles and other documentation tend to be more complete because of its expertise in truck financing. “The titles and other loan documents are all filled out correctly,” he added. “So, there’s very little we have to do administratively. That’s part of that consistency we appreciate with PACCAR Financial.”

“PACCAR Financial has been able to adjust to our company’s changing needs while still providing us consistent financing, that’s why they’ve continued to be our primary equipment finance provider,” King said.

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