Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-132201
Dated June 16, 2008

8.5-year NC 1-year Callable Fixed Rate Note
Final Terms and Conditions

Issuer:	Toyota Motor Credit Corporation

Issue Type:	U.S. MTN

Principal Amount:	$10,000,000
(may be increased prior to Issue Date)

CUSIP:	89233PZ58

Trade Date:	June 16, 2008

Issue Date:	June 25, 2008

Maturity Date:	December 12, 2016

Issue Price:	100.0%

Proceeds:	100.0%.  The Underwriter or its affiliate will
enter into swap transactions with the Issuer to
hedge the Issuer's obligations under the Notes.
The Underwriter and its affiliates expect to realize a profit
in connection with these swap transactions.

Interest Rate:	5.300% per annum

Interest Payment Dates:	Semi-annually on each June 12 and December
12, commencing December 12, 2008

Issuer's Call Option:	Callable in whole but not in part, at par, on each
Interest Payment Date commencing on June 12, 2009 provided that the Issuer
gives at least 10 calendar days' notice

Underwriter:	Deutsche Bank Securities Inc.

Business Day:	New York

Business Day Convention:	Following, unadjusted

Day Count Convention:	30/360

Denomination:	$10,000 by $10,000

Form of Note:	Book-entry

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 SEC Web site at www.sec.gov.  Alternatively, Deutsche
Bank Securities Inc. will arrange to send you the prospectus if you request
it by calling toll-free 1-800-503-4611.

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