EXHIBIT 23.1
    
 
                         CONSENT OF INDEPENDENT AUDITOR
 
   
    We consent to the reference to our firm under the caption "Experts" and to
the use of our report dated March 14, 1997, in Amendment No. 1 to the
Registration Statement (Form S-1 Registration No. 333-21697) and related
Prospectus of AFG Investment Trust B filed April 11, 1997 for the registration
of 1,000,961 rights to acquire Class B Subordinated Interests and 1,000,961
Class B Subordinated Interests.
    
 
                                          ERNST & YOUNG LLP
 
   
Boston, Massachusetts
April 11, 1997