8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 21, 2011 (April 21, 2011)

CIT GROUP INC.
(Exact name of registrant as specified in its charter)

Delaware	001-31369	65-1051192
(State or other	(Commission	(IRS Employer
jurisdiction of	File Number)	Identification No.)
incorporation)

11 West 42^nd Street
New York, New York 10036
(Address of registrant's principal executive office)

Registrant's telephone number, including area code: (212) 461-5200

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[  ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 – Other Events

Item 8.01. Other Events.

     This Current Report on Form 8-K includes as an exhibit a press release, dated April 21, 2011, reporting that CIT Group Inc. (“CIT” or the “Company”) has signed a Purchase Agreement, dated April 21, 2011, to sell Dell Financial Services Canada Limited, an Ontario corporation (“DFS Canada”), to an affiliate of Dell Inc. (“Dell”). In a separate transaction, CIT has signed a Purchase Agreement, dated April 21, 2011, to sell to Dell certain Dell-related assets and sales and servicing functions in Europe (“DFS Europe”). The sale of DFS Canada includes financing and leasing assets of approximately $340 million and the sale of DFS Europe includes financing and leasing assets of approximately $400 million, in each case as of December 31, 2010, subject to normal portfolio activity since that date. The sale of DFS Canada, which has its principal offices in North York, Ontario, is expected to be completed by mid-2011. The sale of DFS Europe, which has its principal offices in Dublin, Ireland, is expected to be completed in 2012. The terms of the transactions were not disclosed. Both transactions are subject to customary closing conditions, including regulatory approvals. The Company anticipates recording a net gain on each transaction in the period in which it closes.

     The press release is attached as Exhibit 99.1 and is incorporated by reference herein.

Forward-Looking Statements

     This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements (including statements regarding future financial and operating results) involve risks, uncertainties and contingencies, many of which are beyond CIT’s control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements contained in this document that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “plan,” and similar expressions are generally intended to identify forward-looking statements. Economic, business, funding market, competitive and/or regulatory factors, among others, affecting CIT’s businesses are examples of factors that could cause actual results to differ materially from those described in the forward-looking statements. More detailed information about these factors are described in CIT’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2010. CIT is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Section 9 – Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press Release issued by CIT Group Inc. on April 21, 2011.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CIT GROUP INC.

(Registrant)

By:	/s/ Scott T. Parker
	Scott T. Parker
	Executive Vice President &
	Chief Financial Officer

Dated: April 21, 2011

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

CIT AGREES TO SELL DELL-RELATED CANADIAN
AND EUROPEAN ASSETS AND FUNCTIONS TO DELL

CIT Formalizes Its Long-term Financing Relationship with
Dell In Latin America and Will Continue to Provide Financing
Programs With Dell In Other Select Countries

     NEW YORK – April [xx], 2011– CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, and Dell Inc. (NASDAQ: DELL) today announced that Dell intends to acquire Dell Financial Services (DFS) Canada Ltd. In a separate transaction, Dell also intends to buy CIT’s Dell-related assets and sales and servicing functions in Europe. Terms of the transactions were not disclosed and are subject to customary closing conditions.

     In addition, CIT recently signed agreements with Dell to formalize its existing agreements in Latin America. CIT will also continue to provide financing programs with Dell in select countries around the world. These programs remain in place and are not impacted by today’s announcement. CIT Vendor Finance will continue to maintain a presence in Canada and Europe while serving its vendor partners in these regions.

     “We are pleased to support Dell as it grows its captive finance strategy to Europe and Canada,” said Ron Arrington, global president, CIT Vendor Finance. “We are proud that Dell has recognized the value that CIT Vendor Finance creates for its partners by taking this program, built over more than a decade, to the next level. We look forward to our continued strong relationship with Dell in other countries around the world, as well as to the growth opportunities for CIT Vendor Finance globally.”

     Don Berman, President of Dell Financial Services, said, “Dell Financial Services has grown by contributing to the success of its customers directly and through our valued relationship with CIT, which remains strong. We're able to offer customers end-to-end technology solutions and full financing capabilities to support them. Dell has a long-term strategic vision to expand our global captive financing footprint over time into regions where it makes sense. These acquisitions should help us achieve this vision.”

     The Canadian transaction is anticipated to close by mid-2011. The European transaction is subject to additional regulatory requirements and is planned to close in 2012. CIT will continue to support Dell in these regions during the transition.

     DFS was formed in 1997 by CIT and Dell to serve as a full-service financial services provider to offer a broad range of customer financing solutions for Dell customers.

     Additional information about this announcement will be available in a Form 8-K that will be filed with the Securities and Exchange Commission. This, and other filings, can be found on CIT’s Web site, www.cit.com, in the Investor Relations section.

About CIT Vendor Finance

CIT Vendor Finance is a global leader in providing financing programs for manufacturers, distributors, product resellers and other intermediaries that enable their customers to acquire products now and finance payments over time. CIT maintains relationships with leading companies primarily in the information technology, telecommunications and office equipment industries while providing equipment leasing and financing to small and middle market businesses across all industries. www.cit.com/vendorfinance

About CIT

Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $35 billion in finance and leasing assets. It provides financing and leasing capital to its more than one million small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. www.cit.com

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CIT MEDIA RELATIONS:
C. Curtis Ritter
Vice President
Director of External and Internal
Communications & Media Relations
(973) 740-5390
Curt.Ritter@cit.com

CIT INVESTOR RELATIONS:
Ken Brause
Executive Vice President
(212) 771-9650
Ken.Brause@cit.com