Dated January 12, 2007

Filed Pursuant to Rule 433

Registration Statement No. 333-132201


Toyota Motor Credit Corporation

Structure:
3 Year MTN FXD

Pricing Date
January 12, 2007

Interest Accrual Date:
January 18, 2007

Settlement Date (T+3):
January 18, 2007

Maturity Date:
January 15, 2010

Ratings:
Aaa/AAA

Cusip:
89233PB54

Form of Note:
Registered MTN

Bond Transaction Details

Principal Amount:
$25,000,000

Coupon:
5.105%

Reoffer Price:
100.000%

Gross Underwriting Spread:
0.060%

All-in Price to Issuer:
99.940%

Net Proceeds:
$24,985,000

Interest Pay Frequency:
Semi-annually

First Payment Date:
July 15, 2007 (short first coupon)

Interest Payment Dates:
15th day of January and July; final payment on January 15,
2010

Day Count:
30 / 360

Day Count Convention:
Following Unadjusted

Payment Days:
New York

Law:
New York

Minimum Denominations:
$1,000

Agent:
Merrill Lynch

DTC Number:
161


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 other
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
toll-free 1-866-500-5408.

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