Filed pursuant to Rule 433
Dated 11/27/06
Registration No. 333-132201

FINAL TERMS

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

Security: 15NC1 Range Accrual Notes

Trade Date: November 27, 2006

Settlement Date: November 30, 2006

Maturity Date: November 30, 2021

First Call Date: November 30, 2007

Issue Size: $10 million

Issue Price: 100%

Redemption Price: 100%

Optional Redemption: The Notes may be redeemed in whole at par, at the
option of the Issuer, on the First Call Date, and semi-annually thereafter

Redemption Notice: Minimum 10 calendar days

Coupon:
7.10% fixed from and including the Settlement Date, to but
excluding the First Call Date; thereafter,

7.10% x (N/D);

where:
"N" is the number of Business Days in the Observation Period where
the Reference LIBOR Rate falls within the Applicable Range; and
"D" is the total number of Business Days in the Observation Period.

Observation Period:
From and including the prior payment date, to but excluding the
next payment date.  For each daily observation, the Reference
LIBOR Rate will be taken from Telerate Page 3750 as of 11.00 a.m.,
London time.
For every Observation Period, the observation that is made on the
5th Calendar Day preceding the next payment date will remain in
effect for the remainder of the Observation Period.

Reference LIBOR Rate: 6-month LIBOR

Applicable Range: From and excluding 0.00%, to and including 7.00%

Payment Frequency: Semi-annually, beginning May 30, 2007

Business Day Convention: Following (New York, London), Unadjusted

Day Count: 30/360

Form: Public

Documentation: US MTN Program

Clearance: DTC

Denominations: $10,000 x $1,000

Lead Manager: Wachovia Capital Markets, LLC

Governing Law: New York

Listing: None

CUSIP: 89233PZZ2

The issuer has filed a registration statement (including a prospectus) with the
SEC for the offering to which this communication relates.  Before you invest,
you should read the prospectus in the registration statement and the documents
the issuer has filed with the SEC for more complete information about the
issuer and this offering.  You may get these documents for free by visiting
EDGAR on the SEC Web site at www.sec.gov.  Alternatively, the issuer, any
underwriter or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling 1-704-715-8400.

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communication and should be disregarded.  Such disclaimer or notice was
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