CONSENT OF INDEPENDENT AUDITORS

We consent to the reference to our firm under the caption "Experts" and to the
use of our reports dated September 10, 1998 and October 7, 1998, with respect to
the consolidated balance sheet of ATEL Financial Corporation and Subsidiary at
July 31, 1998, and the financial statements of ATEL Capital Equipment Fund VIII,
LLC at October 7, 1998, and for the period from July 31, 1998 (inception) 
through October 7, 1998, respectively, included in the Registration Statement
(Form S-1 No. 333-62477 to be filed on December 2, 1998) and related Prospectus
of ATEL Capital Equipment Fund VIII, LLC for the registration of 15,000,000
limited liability company units.


                                             Ernst & Young, LLP


San Francisco, California
December 1, 1998