Pricing Supplement dated August 8, 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: August 8, 2005
Issue Price: 100%			    Original Issue Date: August 11, 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: August 10, 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: August 12, 2005	   Spread (+/-): -2.91%
   Interest Rate Reset Period: Daily		   Spread Multiplier:  N/A
   Interest Reset Dates: Each Business Day	   Maximum Interest Rate: N/A
   Interest Payment Dates: the 10th of each
     February, May, August and November		   Minimum Interest Rate:  N/A
     commencing November 10, 2005		   Index Maturity: Daily
  						   Index Currency:  U.S. dollars

Day Count Convention:
   [ ]  30/360 for the period from       to
   [X]  Actual/360 for the period from August 11, 2005 to August 10, 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



	               ___________________________

                   Morgan Stanley & Co. Incorporated



                    ADDITIONAL TERMS OF THE NOTES

Further Authorizations

          Effective June 16, 2005, in supplement to the $7,000,000,000
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 April 2, 2004, TMCC authorized the offer and issuance from time to
time of an additional $5,500,000,000 aggregate principal amount of its
Medium-Term Notes.

Interest

          The Initial Interest Rate for the Medium-Term Notes offered by this
pricing supplement will be equal to the Prime Rate on August 11, 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 Date.

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, J.P. Morgan Securities Inc. and Morgan
Stanley & Co. Incorporated ("Morgan Stanley") (the "Agreement"), Morgan
Stanley, acting as principal, has agreed to purchase and TMCC has agreed to
sell the Notes at 99.96% of their principal amount. Morgan Stanley 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, Morgan
Stanley is committed to take and pay for all of the Notes offered hereby if
any are taken.