1                                                   EXHIBIT 12
                                                FORM 10-Q for the Quarter 
                                                 Ended September 30, 1995
                                                         File No. 1-11237
     
     
                          AT&T CAPITAL CORPORATION AND SUBSIDIARIES
                             COMPUTATION OF RATIO OF EARNINGS TO
                                        FIXED CHARGES
                                   (Dollars in Thousands)
                                         (Unaudited)
     
                                                               For the 
                                                         Nine Months Ended
                                                         September 30, 1995
                                                         ________________
     Earnings from continuing operations:
     
     Income before income taxes                               $143,276
     
     Add:  Fixed charges included in income before taxes       306,621
                                                              ________
     
     Total earnings from continuing operations, as adjusted    449,897
     
                                                              ________
      
     Total fixed charges*                                     $306,621
     
                                                              ========
     Ratio of earnings to fixed charges                           1.47
                                                              ========
     
     
     *   Fixed charges include interest on indebtedness and the portion of
     rentals representative of the interest factor.