Pricing Supplement dated January 27, 2005 	                Rule 424(b)(3)
(To Prospectus dated April 2, 2004 and	                   File No. 333-113680
Prospectus Supplement dated April 2, 2004)

	                TOYOTA MOTOR CREDIT CORPORATION

	           Medium-Term Note, Series B - Floating Rate
________________________________________________________________________________

Principal Amount: $100,000,000		   Trade Date: January 27, 2005
Issue Price: See "Plan of Distribution"	   Original Issue Date: February 1, 2005
Initial Interest Rate:  See "Additional    Net Proceeds to Issuer: $99,960,000
   Terms of the Notes -- Interest"	   Principal's Discount
Interest Payment Period: Quarterly	      or Commission: 0.04%
Stated Maturity Date: February 1, 2007
________________________________________________________________________________

Calculation Agent: Deutsche Bank Trust Company Americas
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 [X] Prime Rate
              [ ]  Eleventh District Cost of Funds Rate	[ ]  Federal Funds Rate
              [ ]  LIBOR     [ ]  Treasury Rate	       [ ]  Other (see attached)
                            If LIBOR, Designated LIBOR Page:  [ ]  Reuters Page:
                                                        [ ]  Telerate Page: 3750

Initial Interest Reset Date: February 2, 2005	   Spread (+/-): -2.91%
Interest Rate Reset Period: Daily		   Spread Multiplier:  N/A
Interest Reset Dates: Each Business Day
   (except as described below)		           Maximum Interest Rate: N/A
Interest Payment Dates: February 1, May 1,	   Minimum Interest Rate:  N/A
  August 1 and November 1 in each year,		   Index Maturity: Daily
  commencing May 1, 2005			   Index Currency:  U.S. dollars

Day Count Convention:
   [ ]  30/360 for the period from       to
   [X]  Actual/360 for the period from February 1, 2005 to February 1, 2007
   [ ]  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


                    ADDITIONAL TERMS OF THE NOTES

Interest

          The Initial Interest Rate for the Medium-Term Notes offered by this
pricing supplement will be equal to the Prime Rate on February 1, 2005 minus
2.91%.  Notwithstanding anything contained in the Prospectus Supplement to the
contrary, (i) the Interest Determination Date with respect to the Notes will be
the same Business Day as the related Interest Reset Date; and (ii) the Interest
Rate to be used for the two Business Days immediately prior to each Interest
Payment Date (including the date of Maturity) will be the Interest Rate in
effect on the second Business Day preceding such Interest Payment Dates.


Plan of Distribution

            Under the terms of and subject to the conditions of a terms
agreement under a Distribution Agreement dated April 2, 2004 between TMCC and
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets
Inc., Credit Suisse First Boston LLC ("CSFB"), J.P. Morgan Securities Inc. and
Morgan Stanley & Co. Incorporated (the "Agreement"), CSFB, acting as principal,
has agreed to purchase and TMCC has agreed to sell the Notes at 99.96% 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 a
price equal to 100% of their principal amount.

            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.