Pricing Supplement dated May 9, 2001                             Rule 424(b)(3)
(To Prospectus dated January 12, 2000 and                    File No. 333-89659
Prospectus Supplement dated January 12, 2000)

                        TOYOTA MOTOR CREDIT CORPORATION

                       Medium-Term Note - Floating Rate
______________________________________________________________________________

Principal Amount:  $200,000,000           Trade Date: May 9, 2001
Issue Price: See "Plan of Distribution"   Original Issue Date: May 14,2001
Initial Interest Rate:  See "Additional   Net Proceeds to Issuer: $199,980,000
                 Terms of the Notes"      Principal's Discount
Interest Payment Period: Monthly             or Commission: 0.01%
Stated Maturity Date: May 15, 2002

______________________________________________________________________________

Calculation Agent: Bankers Trust
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):
            (see attached)

     Interest Rate Basis: [ ] CD Rate [ ] Commercial Paper Rate [ ] Prime Rate
             [ ]  Eleventh District Cost of Funds Rate [ ]  Federal Funds Rate
             [X]  LIBOR     [ ]  Treasury Rate       [ ]  Other (see attached)
                         If LIBOR, Designated LIBOR Page:  [ ]  Reuters Page:
                                                     [X]  Telerate Page: 3750

     Initial Interest Reset Date: June 15, 2001  Spread (+/-): -0.05%
     Interest Rate Reset Period: Monthly         Spread Multiplier:  N/A
     Interest Reset Dates:      The 15th of each Maximum Interest Rate: N/A
      calendar month, commencing June 15, 2001
     Interest Payment Dates: The 15th of each    Minimum Interest Rate: N/A
      calendar month, commencing June 15, 2001   Index Maturity: 1 month
                                                 Index Currency:  U.S. dollars

Day Count Convention:
     [ ]  30/360 for the period from       to
     [X]  Actual/360 for the period from May 14, 2001 to May 15, 2002
     [ ]  Other (see attached)

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: N/A
          Initial Redemption Percentage: N/A
          Annual Redemption Percentage Reduction: N/A

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



                              ___________________________
                              Credit Suisse First Boston



                                FURTHER AUTHORIZATIONS

          In supplement to the $1,096,060,000 aggregate principal amount(or
the equivalent thereof in one or more foreign or composite currencies) of its
Medium-Term Notes which TMCC was authorized to offer as of January 12, 2000,
TMCC has authorized the offer and issuance from time to time of an additional
$1,820,000,000 aggregate principal amount of its Medium-Term Notes.
Accordingly, notwithstanding anything to the contrary in the Prospectus
Supplement dated January 12, 2000 (the "Prospectus Supplement"), the aggregate
principal balance of Medium-Term Notes issued prior to the Prospectus
Supplement plus those which may be offered from time to time from and after
the date of the Prospectus Supplement may equal up to $12,620,000,000 (except
that with respect to Medium-Term Notes sold at a discount to face, the initial
offering price will be used, and with respect to Medium-Term Notes issued at a
premium to face, the face amount shall be used).

Additional Terms of the Notes

          The Initial Interest Rate for the Medium-Term Notes offered by this
pricing supplement will be equal to one month LIBOR determined on May 10, 2001
minus 0.05%.


Plan of Distribution

          Under the terms of and subject to the conditions of an Appointment
Agreement dated September 15, 1999 and an Appointment Agreement Confirmation
dated May 9, 2001 (collectively, the "Agreement"), between TMCC and Credit
Suisse First Boston Corporation ("CSFB"), CSFB, acting as principal, has
agreed to purchase and TMCC has agreed to sell the Notes at 99.99% of their
principal amount. CSFB may resell the Notes to one or more investors or to one
or more broker-dealers (acting as principal for the purposes of resale) at
varying prices related to prevailing market prices at the time of resale, as
determined by CSFB.

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

     Affiliates of CSFB have in the past and may in the future engage in
general financing and banking transactions with TMCC and its affiliates.