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

Pricing Supplement dated December 1, 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: 89233P2V7

Principal Amount (in Specified Currency): $25,000,000.  TMCC may
increase the Principal Amount prior to the Original Issue Date but
is not required to do so.

Issue Price: 100%

Trade Date: December 1, 2008

Original Issue Date: December 5, 2008

Stated Maturity Date: December 7, 2009

Initial Interest Rate: Three month LIBOR determined on
December 3, 2008 plus 1.00%, accruing from December 5, 2008

Interest Payment Period: Quarterly

Interest Payment Dates: March 5, 2009, June 5, 2009, September 8, 2009,
and on the Stated Maturity Date

Net Proceeds to Issuer: $24,992,500

Agent's Discount or Commission: 0.03%

Agent:  Blaylock Robert Van, LLC

Agents' 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 (+/-): +1.00%
Spread Multiplier: N/A
Index Maturity: 3 month
Index Currency: U.S. Dollars
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A

Initial Interest Reset Date: March 5, 2009

Interest Rate Reset Period: Quarterly

Interest Reset Dates: The same dates as each Interest Payment Date.
For the avoidance of doubt, newly reset interest rates shall apply
beginning on and including the Interest Reset Date, to but excluding
the next Interest Payment Date

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



ADDITIONAL TERMS OF THE NOTES

Plan of Distribution

Under the terms of and subject to the conditions of an Appointment
Agreement dated December 1, 2008 (the "Appointment Agreement") between TMCC
and Blaylock Robert Van, LLC ("Blaylock"), Blaylock, 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, Blaylock is committed
to take and pay for all of the Notes offered hereby, if any are taken.

Settlement


We expect that delivery of the Notes will be made against payment therefor
on the Original Issue Date.  Under Rule 15c6-1 of the Securities Exchange
Act of 1934, as amended, trades in the secondary market generally are
required to settle in three Business Days, unless the parties to any such
trade expressly agree otherwise.  Accordingly, purchasers who wish to trade
the Notes more than three Business Days prior to the Original Issue Date
will be required to specify alternative settlement arrangements to prevent
a failed settlement and should consult their own investment advisor.