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

Pricing Supplement dated February 13, 2008
(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: 89233PS31

Principal Amount (in Specified Currency): $100,000,000.
TMCC may increase the Principal Amount prior to the Original Issue
Date but is not required to do so.

Issue Price: 100%

Trade Date: February 13, 2008

Original Issue Date: February 19, 2008

Stated Maturity Date: March 19, 2009

Initial Interest Rate: The Federal Funds Rate with respect to
		       February 19, 2008 plus 0.27%

Interest Payment Period: Quarterly
Interest Payment Dates: May 19, 2008, August 19, 2008, November 19, 2008,
		        February 19, 2009 and at Maturity

Net Proceeds to Issuer: $99,990,000

Agent's Discount or Commission: 0.01%

Agent: The Williams Capital Group, L.P.

Agent's 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
	[X] Federal Funds Rate
	[ ] LIBOR Reuters/Page:
	[ ] LIBOR Telerate/Page:
	[ ] 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 (+/-): +0.27%

Spread Multiplier: Not Applicable
Index Maturity: Not Applicable
Index Currency: Not Applicable
Maximum Interest Rate: Not Applicable
Minimum Interest Rate: Not Applicable

Initial Interest Reset Date: February 20, 2008

Interest Rate Reset Period: Daily

Interest Reset Dates: Each Business Day

Interest Determination Date: One Business Day preceding 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 an Appointment
Agreement dated July 13, 2006 and an Appointment Agreement Confirmation
dated February 13, 2008 (collectively, the "Agreement") between TMCC and
The Williams Capital Group, L.P. ("Williams Capital Group"), Williams
Capital Group, acting as principal, has agreed to purchase and TMCC has
agreed to sell the Notes identified herein.  Under the terms and conditions
set forth in 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., Morgan Stanley & Co.
Incorporated and Toyota Financial Services Securities USA Corporation, as
amended from time to time, incorporated by reference in the Agreement,
Williams Capital Group is committed to take and pay for all of the Notes
offered hereby, if any are taken.