Rule 424(b)(3)
                                          Registration Statement No.333-71361
                                          Cusip # 12560 PBK6

PRICING SUPPLEMENT NO. 7,

Dated  September 10, 1999 to
Prospectus,  dated February 11, 1999 and
ProspectusSupplement, dated March 31, 1999.

                              THE CIT GROUP, INC.
                        MEDIUM-TERM FLOATING RATE NOTES
                  DUE NINE MONTHS OR MORE FROM DATE OF ISSUE


(X) Senior Note         (   ) Senior Subordinated Note

Principal Amount:  U.S. $500,000,000.

Proceeds to Corporation:  100% or $500,000,000.

Underwriting Commission:  0%.

Issue Price:  Variable Price Reoffer, Intially at Par.

Specified Currency:  U.S. Dollars.

Original Issue Date:  September 15, 1999.

Maturity Date:  September 15, 2000.

Interest Rate Basis:  Prime Rate.

Spread:  -270 basis points.

Initial Interest Rate:    The Prime Rate determined one Business Day prior to
the Original Issue Date minus 270 basis points.

The Notes are  offered by the  Underwriters,  as  specified  herein,  subject to
receipt and acceptance by them and subject to their right to reject any order in
whole or in part.  It is expected  that the Notes will be ready for  delivery in
book-entry form on or about September 15, 1999.

                                 LEHMAN BROTHERS
                              SALOMON SMITH BARNEY


<PAGE>


Form:  Global Note.

Interest Reset Date:  Each Business Day to but excluding the Maturity Date.

Rate  Cut-Off Date:  Two Business Days prior to each Interest  Payment Date. The
      interest  rate  for  each  day  following  the  Rate  Cut-Off  Date to but
      excluding  the Interest  Payment Date will be the rate  prevailing  on the
      Rate Cut-Off Date.

Accrual of Interest:  Accrued  interest  will be computed by adding the Interest
      Factors  calculated  for each day from the Original Issue Date or from the
      last date to which  interest has been paid or duly  provided for up to but
      not including the day for which accrued interest is being calculated.  The
      "Interest  Factor"  for any  Note for each  such day will be  computed  by
      multiplying the face amount of the Note by the interest rate applicable to
      such day and dividing the product thereof by 360.

Interest  Payment  Dates:  Quarterly  on  December  15,  March  15,  June 15 and
      September 15, commencing  December 15, 1999, provided that if any Interest
      Payment Date (other than the Maturity Date) would  otherwise fall on a day
      that is not a Business  Day,  then the  Interest  Payment Date will be the
      first  following  day that is a Business  Day. If the Maturity  Date would
      otherwise  fall on a day that is not a Business  Day,  then  principal and
      interest on the Note will be paid on the next succeeding Business Day, and
      no interest on such  payment will accrue for the period from and after the
      Maturity Date.

      Interest  payments  will  include the amount of interest  accrued from and
      including the most recent Interest Payment Date to which interest has been
      paid (or from and including the Original  Issue Date) to but excluding the
      applicable Interest Payment Date.

Calculation Date:  The earlier of (i) the fifth Business Day after each Interest
      Determination  Date or (ii) the Business  Day  immediately  preceding  the
      applicable Interest Payment Date.

Interest Determination Date: One Business Day prior to each Interest Reset Date.

Minimum Interest Rate:  0.0%.

Calculation Agent:  The CIT Group, Inc. (the "Corporation")

Trustee, Registrar, Authenticating and Paying Agent:
      The First  National Bank of Chicago,  now known as Bank One Trust Company,
      N.A.,  under  Indenture dated as of September 24, 1998 between the Trustee
      and the Corporation.
<PAGE>

                                 UNDERWRITING

Lehman Brothers Inc. and Salomon Smith Barney Inc. (the "Underwriters") are
acting as principals in this transaction.

Subject  to the terms and  conditions  set forth in a Term  Sheet and  Agreement
dated  September 10, 1999 (the "Terms  Agreement"),  between the Corporation and
the  Underwriters,  incorporating  the terms of a Selling Agency Agreement dated
May 15, 1996 and amended as of March 31, 1999,  among the Corporation and Lehman
Brothers, Lehman Brothers Inc., Credit Suisse First Boston Corporation, Goldman,
Sachs  & Co.,  Merrill  Lynch  & Co.,  Merrill  Lynch,  Pierce,  Fenner  & Smith
Incorporated,  Morgan  Stanley & Co.  Incorporated,  Salomon  Smith  Barney Inc.
(formerly known as Salomon  Brothers Inc), and Warburg Dillon Read LLC (formerly
known as UBS Securities LLC), (and Chase  Securities Inc.  pursuant to the First
Amendment to the Selling Agency Agreement dated March 31, 1999), the Corporation
has agreed to sell to the Underwriters, and the Underwriters have each severally
agreed to purchase the  principal  amount of the Notes set forth below  opposite
their names.

      Underwriter                                       Principal Amount

      Lehman Brothers Inc.                                  $250,000,000
      Salomon Smith Barney Inc.                             $250,000,000

      Total                                                 $500,000,000

Under the terms and  conditions of the Terms  Agreement,  the  Underwriters  are
committed to take and pay for all of the Notes, if any are taken.

The  Underwriters  have advised the  Corporation  that they propose to offer the
Notes for sale from time to time in one or more transactions  (which may include
block transactions),  in negotiated  transactions or otherwise, or a combination
of such methods of sale,  at market  prices  prevailing  at the time of sale, at
prices related to such  prevailing  market prices or at negotiated  prices.  The
Underwriters  may effect  such  transactions  by selling the Notes to or through
dealers,  and such dealers may receive  compensation in the form of underwriting
discounts,   concessions  or  commissions  from  the  Underwriters   and/or  the
purchasers of the Notes for whom they may act as agent.  In connection  with the
sale of the Notes, the Underwriters may be deemed to have received  compensation
from the Corporation in the form of underwriting discounts, and the Underwriters
may also receive  commissions from the purchasers of the Notes for whom they may
act as  agent.  The  Underwriters  and any  dealers  that  participate  with the
Underwriters in the  distribution of the Notes may be deemed to be underwriters,
and any discounts or  commissions  received by them and any profit on the resale
of the Notes by them may be deemed to be underwriting discounts or commissions.

      The  Notes  are a new  issue of  securities  with no  established  trading
market.  The  Corporation  currently  has no  intention to list the Notes on any
securities  exchange.  The Corporation has been advised by the Underwriters that
they intend to make a market in the Notes but are not obligated to do so and may
discontinue  any market making at any time without  notice.  No assurance can be
given as to the liquidity of the trading market for the Notes.

      The Corporation has agreed to indemnify the  Underwriters  against certain
liabilities, including liabilities under the Securities Act of 1933, as amended.