Pricing Supplement dated June 6, 1994                                   Rule 424(b)(3)
(To Prospectus dated March 9, 1994 and                               File No. 33-52359
Prospectus Supplement dated March 9, 1994) 


                            TOYOTA MOTOR CREDIT CORPORATION

                           Medium-Term Note - Floating Rate
______________________________________________________________________________________

Principal Amount:  $50,000,000                 Trade Date:  June 6, 1994   
Issue Price:  100%                             Original Issue Date:  June 8, 1994
Initial Interest Rate:  See "Additional
                      Terms of the Notes"      Net Proceeds to Issuer:  $50,000,000
Stated Maturity Date:  June 10, 1996           Discount or Commission:  0.0%
______________________________________________________________________________________

Calculation Agent:  Bankers Trust Company

Interest Calculation:
     [x]  Regular Floating Rate Note         [ ]  Floating Rate/Fixed Rate Note
     [ ]  Inverse Floating Rate Note                (Fixed Rate Commencement
            (Fixed Interest Rate):                   Date):
     [ ]  Other Floating Rate Note                  (Fixed Interest Rate):

     Interest Rate Basis:  [ ]  CD Rate    [ ]  Commercial Paper Rate
               [ ]  Eleventh District Cost of Funds Rate    [ ]  Federal Funds Rate
               [ ]  LIBOR     [x]  Treasury Rate       [ ]  Other (see attached)
                         If LIBOR, Designated LIBOR Page:  [ ]  Reuters Page:
                                                           [ ]  Telerate Page:

     Initial Interest Reset Date:  See "Additional     Spread (+/-):  +0.24%
                         Terms of the Notes"           Spread Multiplier:  N/A
     Interest Rate Reset Period:  Weekly               Maximum Interest Rate: N/A
     Interest Reset Dates: See "Additional Terms of    Minimum Interest Rate:  N/A
                              the Notes"               Index Maturity:  3 months 
     Interest Payment Dates:  September 8, December 8  
                         March 8 and June 8,           
                         commencing September 8, 1994

Day Count Convention:
     [ ]  30/360 for the period from                  to
     [x]  Actual/Actual for the period from        6/8/94 to 6/10/96
     [ ]  Other (see attached)                       to

Redemption:
     [x]  The Notes cannot be redeemed prior to the Stated Maturity Date.
     [ ]  The Notes may be redeemed prior to Stated Maturity Date.
          Initial Redemption Date:
          Initial Redemption Percentage:    %
          Annual Redemption Percentage Reduction:     % until Redemption
          Percentage is 100% of the Principal Amount.

Repayment:
     [x]  The Notes cannot be repaid prior to the Stated Maturity Date.
     [ ]  The Notes can be repaid prior to the Stated Maturity Date at the option of
          the holder of the Notes.
          Optional Repayment Date(s):
          Repayment Price:     %

Currency:
     Specified Currency:  U.S. dollars
          (If other than U.S. dollars, see attached)
     Minimum Denominations:  
          (Applicable only if Specified Currency is other than U.S. dollars)

Original Issue Discount:  [ ]  Yes     [x] No
     Total Amount of OID:
     Yield to Maturity:
     Initial Accrual Period:

Form:  [x] Book-entry            [ ] Certificated


                              ___________________________
                                    Lehman Brothers


                            ADDITIONAL TERMS OF THE NOTES


Interest

            The Initial Interest Rate for the Medium-Term Notes
offered by this Pricing Supplement (the "Notes") will be equal to
the sum of (i) the Treasury Rate having an Index Maturity of
three months as determined in the June 6, 1994 Treasury bill
auction, as such rate is published in H.15(519) under the heading
"U.S. Government Securities-Treasury Bills-auction average
(investments)", plus (ii) 0.24%.  The Interest Reset Date shall
be one Business Day immediately following the most recent
Treasury bill auction. 

            The Treasury Rate published in H.15 (519) under the
heading "U.S. Government Securities-Treasury Bills-auction
average (investment)" is also reported on Telerate Page 56.

Plan of Distribution

            Under the terms of and subject to the conditions of a
Distribution Agreement dated as of October 17, 1991, as amended,
(the "Agreement"), between TMCC and Lehman Brothers, Lehman
Brothers, acting as principal, has agreed to purchase and TMCC
has agreed to sell the Notes at 100% of the principal amount
thereof.  Lehman Brothers proposes to offer the Notes at an
initial public offering price of 100% of the principal amount
thereof. After the Notes are released for sale to the public, the
offering price may from time to time be varied by Lehman
Brothers.  

            Under the terms and conditions of the Agreement, Lehman
Brothers is committed to take and pay for all of the Notes
offered hereby if any are taken.