Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-132201
Dated January 2, 2008

Final Terms for Issuance

Issuer:  		Toyota Motor Credit Corporation

Security:		Floating Rate Medium Term Notes, Series B

Issuer Ratings:		Aaa/AAA

Cusip:			89233PP67

Pricing Date:		January 2, 2008

Settlement Date :	January 9, 2008

Maturity Date:		January 12, 2009

Principal Amount:	$500,000,000
			(may be increased prior to the Settlement Date)

Re-offer Price:		100.000%

Gross Underwriting Spread:  0.01%

All-in Price to Issuer:	99.99%

Net Proceeds to Issuer:	$499,950,000

Floating Rate Index:	1 Month LIBOR

Floating Rate Spread:	+5 basis points

Index Source:		LIBOR Telerate

Interest Payment Frequency:  Monthly

Initial Interest Payment Date:  February 12, 2008 (long first coupon)

Initial Interest Rate:	1 Month LIBOR determined on January 7, 2008
			+5 basis points

Interest Payment Dates:	On the 12th of each calendar month

Interest Reset Dates:  The same day as the related Interest Payment Date

Interest Determination Dates:  Second London Banking Day preceding
			       each Interest Reset Date

Day Count Convention:	Actual/360

Business Day Convention:  Modified Following, adjusted

Business Days:		New York and London

Governing Law:		New York

Calculation Agent:	Deutsche Bank Trust Company Americas

Minimum Denominations:	$1,000 and $1,000 increments thereafter

Agent:			J.P. Morgan Securities Inc.

DTC Number:		#187

Capitalized terms used herein but not otherwise defined shall have the
meanings assigned to them in the pricing supplement relating to these
notes.

The issuer has filed a registration statement (including a prospectus)
with the U.S. Securities and Exchange Commission (SEC) for the
offering to which this communication relates.  Before you invest, you
should read the prospectus in that 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 web 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
collect 212-834-4533.

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to this communication and should be disregarded.  Such disclaimer or
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