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

Pricing Supplement dated May 20, 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: 89233PX76

Principal Amount (in Specified Currency): $400,000,000.
TMCC may increase the Principal Amount prior to the Original Issue Date but
is not required to do so.

Issue Price: 100%

Trade Date: May 20, 2008

Original Issue Date: May 23, 2008

Stated Maturity Date: June 19, 2009

Initial Interest Rate: One month LIBOR determined on May 21, 2008 plus 0.01%,
accruing from May 23, 2008

Interest Payment Period: Monthly

Interest Payment Dates: The 19th of each calendar month, commencing
June 19, 2008 and on the Stated Maturity Date

Net Proceeds to Issuer: $399,960,000

Agent's Discount or Commission: 0.01%

Agent: J.P. Morgan Securities Inc.

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
	[ ] Federal Funds Rate
	[ ] LIBOR Reuters/Page:
	[X] LIBOR Telerate/Page: 3750
	[ ] 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 (+/-): + 0.01%

Spread Multiplier: N/A
Index Maturity: 1 month
Index Currency: U.S. Dollars
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A

Initial Interest Reset Date: June 19, 2008

Interest Rate Reset Period: Monthly

Interest Reset Dates: The 19th of each calendar month, commencing
June 19, 2008

Interest Determination Date: The second London Banking Day preceding
each Interest Reset Date

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

Business Day Convention
	[ ] Following
	[X] Modified Following

Redemption: Not Applicable
Redemption Dates:
Notice of Redemption:

Repayment: Not Applicable
Optional Repayment Date(s):
Repayment Price:

Original Issue Discount: No

Specified Currency: U.S. dollars

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

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