Rule 424(b)(3)
Registration No. 333-132201

Pricing Supplement dated April 20, 2006
(To Prospectus dated March 7, 2006
and Prospectus Supplement dated March 7, 2006)

TOYOTA MOTOR CREDIT CORPORATION
Medium-Term Notes, Series B - Floating Rate

Capitalized terms used in this Pricing Supplement that are defined in
the Prospectus Supplement shall have the meanings assigned to them in
the Prospectus Supplement.

CUSIP: 89233PYE0

Principal Amount (in Specified Currency): $100,000,000
Issue Price: 100%
Trade Date: April 20, 2006
Original Issue Date: April 25, 2006
Stated Maturity Date: April 26, 2007

Initial Interest Rate: See "Additional Terms of the Notes"
Interest Payment Period: Quarterly
Interest Payment Dates: The 26th of January, April, July and October,
commencing July 26, 2006

Net Proceeds to Issuer: $99,990,000
Agent's Discount or Commission: 0.01%
Agent: J.P. Morgan Securities Inc.
Agent's Capacity:
	[ ] Agent
	[X] Principal

Calculation Agent: Deutsche Bank Trust Company Americas

Interest Calculation:
[X] Regular Floating Rate Note
[ ] Inverse Floating Rate Note
	Fixed Interest Rate:
[ ] Floating Rate/Fixed Rate Note
	Fixed Interest Rate:
	Fixed Rate Commencement Date:
[ ] Other Floating Rate Note (see attached)

Interest Rate Basis:
	[ ] CD Rate
	[ ] CMS Rate
	[ ] CMT Rate
	[ ] Commercial Paper Rate
	[ ] Eleventh District Cost of Funds Rate
	[ ] Federal Funds Rate
	[ ] LIBOR Reuters/Page:
	[ ] LIBOR Telerate/Page:
	[ ] Prime Rate
	[X] Treasury Rate
	[ ] Other (see attached)

If CMT:
Designated CMT Maturity Index:
	__ Year(s)
Designated CMT Telerate Page:
	[ ] 7051
	[ ] 7052
If 7052:
	[ ] Week
	[ ] Month

Spread (+/-): +0.24%
Spread Multiplier: Not Applicable
Index Maturity: 3 months
Index Currency: U.S. dollars
Maximum Interest Rate: Not Applicable
Minimum Interest Rate: Not Applicable

Initial Interest Reset Date: See "Additional Terms of the Notes"
Interest Rate Reset Period: Weekly
Interest Reset Dates: See "Additional Terms of the Notes"

Day Count Convention:
	[ ]  30/360
	[ ]  Actual/360
	[X]  Actual/Actual

Business Day Convention
	[ ] Following
	[X] Modified Following

Redemption: Not Applicable
Redemption Date(s):
Notice of Redemption:

Repayment: Not Applicable
Optional Repayment Date(s):
Repayment Price:

Original Issue Discount: No
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period:

Specified Currency: U.S. dollars
Minimum Denominations: $1,000 and $1,000 increments thereafter
Form of Note:
	[X] Book-entry only
	[ ] Certificated


ADDITIONAL TERMS OF THE NOTES

       The Initial Interest Rate for the Notes will be equal to the sum
of (i) the Treasury Rate having an Index Maturity of three months as
determined (as provided in the Prospectus Supplement) in the April 24,
2006 Treasury Bill auction, plus (ii) 0.24%.  The per annum Interest
Rate payable on the Notes on each Interest Payment Date will be
calculated in accordance with the following formula:

(TR / N)  + 0.24%

Where:

"TR" means the sum of the Weekly Treasury Rates determined with
respect to a Calculation Period.

"Weekly Treasury Rate" means the Treasury Rate having an Index
Maturity of three months determined weekly as provided in the
Prospectus Supplement.

"N" means the number of times with respect to a Calculation
Period the Weekly Treasury Rate is determined.

"Calculation Period" means the period from and including the
previous Interest Payment Date (except for the Calculation Period
related to the first Interest Payment Date, which shall be from
and including the Original Issue Date) to but excluding the
related Interest Payment Date.

       Notwithstanding anything contained in this Pricing Supplement or
the Prospectus Supplement to the contrary, the Interest Rate to be
used for the two Business Days immediately prior to each Interest
Payment Date (including the Stated Maturity Date) will be the Interest
Rate in effect on the second Business Day preceding such Interest
Payment Date (including the Stated Maturity Date).  The Interest Reset
Dates (including the Initial Interest Reset Date) shall be on the
Tuesday of each week (except as otherwise specified in the Prospectus
Supplement).