Pricing Supplement No. 8 dated October 15, 1998          Registration Nos. 333-38171
(To Prospectus dated August 7, 1998 and                                    333-38171-01
Prospectus Supplement dated August 7, 1998)              Filing under Rule 424(b)(3)

                                 FINOVA CAPITAL CORPORATION
                             Medium-Term Notes - Floating Rate

=================================================================================================
Principal Amount: $25,000,000             Original Issue Date (Settlement Date): October 20, 1998 
                                          Stated Maturity: April 20,2000
=================================================================================================
Calculation Agent (If other than The First National Bank of Chicago):

Base Rate or Base Rates:
   [ ] CMT Rate                                         [X] LIBOR
   [ ] Commercial Paper Rate                            [ ] Prime Rate
   [ ] Eleventh District Cost of Funds Rate             [ ] Treasury Rate
   [ ] Federal Funds Rate                               [ ] Other (see attached)

If LIBOR:                                               If CMT Rate:
   [ ] LIBOR Reuters                                       Designated CMT Telerate Page:
       Page:                                               If Telerate Page 7052:
   [X] LIBOR Telerate                                         [ ] Weekly Average
       Page: 3750                                             [ ] Monthly Average
   Designated LIBOR Currency: USD                          Designated CMT Maturity Index:

Interest Payment Date(s): 20th of January, April, July, October
      (following business day convention applies)              Spread (plus or minus):+.55%
Initial Interest Rate: 5.76891%                                Spread Multiplier:N/A
Interest Reset Date: same as Interest Payment Date             Minimum Interest Rate:N/A
Interest Rate Reset Period: Quarterly                          Maximum Interest Rate:N/A
Index Maturity: Quarterly
Interest Determination Date(s):second London Business Day before the Interest Reset Date


Day  Count  Convention (if no Day Count  Convention is specified  below, the Day
     Count  Convention  from the  Original  Issue Day until  the  principal  of,
     premium,  if any, and interest on the Medium-Term Notes offered hereby (the
     "Notes") are paid in full will be as set forth in the Prospectus Supplement
     referred to above):

   [X] Actual/360 for the period from  October 20, 1998 to April 20, 2000
   [ ] Actual/Actual for the period from          to
   [ ] 30/360 for the period from        to
   Applicable Base Rate:

Redemption:
   [X] The Notes cannot be redeemed at the option of FINOVA Capital Corporation
          (the "Company") prior to Stated Maturity.
   [ ] The Notes may be redeemed at the option of the Company prior to Stated 
          Maturity.
       Initial Redemption Date:
       Initial Redemption Percentage:        %
       Annual Redemption Percentage Reduction:      % until the Redemption Price
          is 100% of the Principal Amount.

Optional Repayment:
   [X] The Notes cannot be repaid at the option of the Holders thereof prior
          to Stated Maturity.
   [ ] The Notes can be repaid at the option of the Holders thereof prior to 
          Stated Maturity.
       Optional Repayment Date(s):

Authorized Denomination (if other than $1,000 and integral multiples thereof):


Original Issue Discount:   [ ] Yes   [X] No
     Total Amount of OID:                                   Yield to Maturity:
     Initial Accrual Period:                                Issue Price:      %
     Method used to determine yield for Initial Accrual Period:
     [ ] Approximate
     [ ] Exact

Form: [X] Book-Entry  [ ] Certificated

Agent:[ ] Credit Suisse First Boston Corporation
      [ ] Goldman, Sachs & Co.
      [ ] Lehman Brothers Inc.
      [X] Merrill Lynch & Co.
            Merrill Lynch, Pierce, Fenner & Smith
                     Incorporated
      [ ] Morgan Stanley & Co. Incorporated
      [ ] Salomon Smith Barney Inc

Agent is acting in the capacity indicated below:
      [X] Agent  [ ] Principal

If as principal:
      [ ] The Notes  are  being  offered  at  varying   prices   related  to
              prevailing  market prices at the time of resale,  plus accrued
              interest, if any, from the Original Issue Date.
      [ ] The Notes are being  offered at a fixed  initial  public  offering
              price of        % of the Principal Amount, plus accrued interest,
              if any, from the Original Issue Date.

If as agent:
      The Notes are being offered at a fixed initial public offering price
          of 100% of the Principal Amount, plus accrued interest, if any,
          from the Original Issue Date.

Agent's discount or commission:.20%

Net proceeds to Company:$24,950,000

CUSIP:31808CBZ4

Other Provisions:


Trustee: The First National Bank of Chicago


Certain capitalized terms used in this Pricing Supplement and not defined herein
have the respective  meanings  ascribed thereto in the Prospectus and Prospectus
Supplement referred to above.

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