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

Pricing Supplement dated January 5, 2007
(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: 89233PA63

Principal Amount (in Specified Currency): $565,000,000
Issue Price: 100%
Trade Date: January 5, 2007
Original Issue Date: January 10, 2007
Stated Maturity Date: January 11, 2008

Initial Interest Rate: The Prime Rate on January 10, 2007 minus 2.95%
Interest Payment Period: Quarterly
Interest Payment Dates: April 11, 2007, July 11, 2007, October 11,
2007 and at Maturity

Net Proceeds to Issuer: $564,943,500
Agent's Discount or Commission: 0.01%
Agents: J.P. Morgan Securities Inc.
		  RBC Capital Markets Corporation
Agents' 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:
	[X] Prime Rate
	[ ] Treasury Rate
	[ ] Other (see attached)

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

Spread (+/-): -2.95%
Spread Multiplier: Not Applicable
Index Maturity: Daily
Index Currency: U.S. Dollars
Maximum Interest Rate: Not Applicable
Minimum Interest Rate: Not Applicable

Initial Interest Reset Date: January 11, 2007
Interest Rate Reset Period: Daily
Interest Reset Dates: Each Business Day
Interest Determination Date: The same Business Day as the related
Interest Reset Date

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

Business Day Convention
	[X] Following
	[ ] 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

Interest

       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).

Plan of Distribution

		Under the terms of and subject to the conditions of a terms
agreement under the Third Amended and Restated Distribution Agreement
dated March 7, 2006 between TMCC and Merrill Lynch, Pierce, Fenner &
Smith Incorporated, Citigroup Global Markets Inc., Deutsche Bank
Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities
Inc. ("JPMorgan"), Morgan Stanley & Co. Incorporated and Toyota
Financial Services Securities USA Corporation (the "Distribution
Agreement"), JPMorgan, acting as principal, has agreed to purchase and
TMCC has agreed to sell $365,000,000 in principal amount of the Notes
at 99.99% of their principal amount.

		Under the terms of and subject to the conditions of an
Appointment Agreement dated January 5, 2007 and an Appointment
Agreement Confirmation dated January 5, 2007 (collectively, the
"Appointment Agreement") between TMCC and RBC Capital Markets
Corporation ("RBC Capital"), RBC Capital, acting as principal, has
agreed to purchase and TMCC has agreed to sell $200,000,000 in
principal amount of the Notes at 99.99% of their principal amount.

		JPMorgan and RBC Capital may each 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 Distribution Agreement
and the Appointment Agreement, the obligations of JPMorgan and RBC
Capital to purchase the Notes are several and not joint, and in the
event of a default by any of JPMorgan or RBC Capital, TMCC will issue
the notes to the other dealer and the size of the offering will be
correspondingly reduced. Under the terms and conditions of the
Distribution Agreement and the Appointment Agreement, each of JPMorgan
and RBC Capital is committed to take and pay for its own full
allocation of the Notes offered hereby if any of such allocation are
taken.