Pricing Supplement dated August 9, 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: $250,000,000	            Trade Date: August 9, 2005
Issue Price: 100%			    Original Issue Date: August 12, 2005
Initial Interest Rate:  See "Additional     Net Proceeds to Issuer: $249,900,000
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 [ ] 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: November 10, 2005  Spread (+/-): -0.03%
   Interest Rate Reset Period: Quarterly	   Spread Multiplier:  N/A
   Interest Reset Dates: the 10th of each 	   Maximum Interest Rate: N/A
     February, May, August and November
   Interest Payment Dates: the 10th of each        Minimum Interest Rate:  N/A
     February, May, August and November		   Index Maturity: 3 month
     commencing November 10, 2005		   Index Currency:  U.S. dollars

Day Count Convention:
   [ ]  30/360 for the period from       to
   [X]  Actual/360 for the period from August 12, 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





                   ___________________________

                   Citigroup Global Markets Inc.



                 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 three month LIBOR determined on
August 10, 2005 minus 0.03%.

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