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

Pricing Supplement dated January 12, 2007
(To Prospectus dated March 7, 2006
and Prospectus Supplement dated March 7, 2006)

TOYOTA MOTOR CREDIT CORPORATION
Medium-Term Notes, Series B - Fixed 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: 89233PB54

Principal Amount (in Specified Currency): $25,000,000
Issue Price: 100%
Trade Date: January 12, 2007
Original Issue Date: January 18, 2007
Stated Maturity Date: January 15, 2010

Interest Rate: 5.105% per annum
Interest Payment Dates: Each January 15 and July 15, commencing
   July 15, 2007

Net Proceeds to Issuer: $24,985,000
Agent's Discount or Commission: 0.06%
Agent: Merrill Lynch, Pierce, Fenner & Smith Incorporated
Agent's Capacity:
	[ ] Agent
	[X] Principal

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

Redemption: Not Applicable
Redemption Dates:
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