Filed Pursuant to Rule 433
Dated 03/23/06
Registration Statement No. 333-132201

Toyota Motor Credit Corporation ("TMCC")
25 NC 2-year US MTN Note
Final Terms and Conditions

Summary Terms of Note

Issuer: Toyota Motor Credit Corporation ("TMCC") (Aaa/AAA)

Underwriter: Deutsche Bank Securities Inc. ("DBSI")

Documentation: US MTN Program

Denominations: 10,000 x 1,000

Launch Date: March 23, 2006

Settlement Date: March 28, 2006

Maturity Date: March 28, 2031

Issue Size: USD 25,000,000

Issue Price: 100.00%

Proceeds: 100.00% (100% of issue size equals USD 25,000,000)

Re-offer Price: 100.00%

Coupon: 6.40%

Payment Dates: Interest on the Notes will be payable on September 28, 2006
and semi-annually thereafter on 03/28 and 09/28

Call Feature: The Notes will be callable in whole at par on March 28, 2008
and semi-annually thereafter on 09/28 and 03/28

Call Notification: 10 calendar days notification on the Notes

Daycount Fraction: 30 / 360, following unadjusted

Governing Law: New York

CUSIP: 89233PXV3

Business Days: New York

The issuer has filed a registration statement (including a prospectus) with
the Securities and Exchange Commission for the offering to which this
communication relates. Before you invest, you should read the prospectus
in that registration statement and other documents the issuer has filed with
the Securities and Exchange Commission for more complete information about the
issuer and this offering. You may get these documents for free by visiting
EDGAR on the Web site of the Securities and Exchange Commission at www.sec.gov.
Alternatively, an underwriter or dealer participating in the offering will
arrange to send you the prospectus if you request it by calling toll-free
1-800-503-4611.