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

Pricing Supplement dated February 26, 2008
(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: 	89233PT48

Principal Amount (in Specified Currency): $10,087,000. 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 26, 2008

Original Issue Date: March 12, 2008

Stated Maturity Date: March 12, 2013

Interest Rate: 4.00% per annum

Interest Payment Dates: Semi-annually on the 12th of each March and September,
commencing September 12, 2008

Net Proceeds to Issuer: 100.0%

Agent's Discount or Commission: 0.0%.  The Agent or its affiliate will enter
into swap transactions with TMCC to hedge TMCC's obligations under the Notes.

Agent: Lehman Brothers Inc.

Agent's Capacity:
	[ ] Agent
	[X] Principal

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

Business Day Convention:  Following, unadjusted

Redemption: The Notes are subject to redemption by TMCC, in whole, but not in
part, at par on the Redemption Dates and subject to the Notice of Redemption
stated below.

Redemption Dates: September 12, 2008 and each Interest Payment Date thereafter

Notice of Redemption: The redemption of the Notes is subject to not less than
10 calendar days' prior notice

Repayment: Not Applicable

Optional Repayment Date(s):

Repayment Price:

Original Issue Discount: No

Yield to Maturity:

Initial Accrual Period:

Specified Currency: U.S. dollars

Minimum Denominations: 	$10,000 and $1,000 increments thereafter

Form of Note:
	[X] Book-entry only
	[ ] Certificated


PLAN OF DISTRIBUTION
   Under the terms of and subject to the conditions of an Appointment
Agreement dated April 25, 2007 and an Appointment Agreement Confirmation
dated February 26, 2007 (collectively, the "Agreement") between TMCC and
Lehman Brothers Inc., Lehman Brothers Inc., 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 Appointment Agreement, Lehman Brothers Inc. is committed to take and pay
for all of the Notes offered hereby, if any are taken.