Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-132201
Dated December 3, 2008

Final Terms for Issuance

Issuer:  		Toyota Motor Credit Corporation

Security:		Floating Rate Medium Term Notes, Series B

Issuer Ratings:		Aaa/AAA

Cusip:			89233P2U9 (reopening)

Reopening Number:	2

Pricing Date:		December 3, 2008

Settlement Date :	December 12, 2008

Maturity Date:		December 3, 2009

Principal Amount:	$145,000,000
			(may be increased prior to the Settlement Date)

Re-offer Price:	100.0096% plus $141,888.54 in accrued interest from and
including December 1, 2008 to but excluding December 12, 2008
(equivalent to $145,155,808.54)

Gross Underwriting Spread:  0.03%

All-in Price to Issuer:	99.9796% plus accrued interest from December 1, 2008

Net Proceeds to Issuer:	$144,970,420 plus accrued interest from
December 1, 2008 (or $145,112,308.54)

Floating Rate Index:	3 Month LIBOR

Floating Rate Spread:	+ 100 basis points

Index Source:		LIBOR Telerate

Interest Payment Frequency:  Quarterly

Initial Interest Payment Date:  March 3, 2009

Initial Interest Rate:	3 Month LIBOR determined on November 27, 2008
+ 100 basis points, accruing from December 1, 2008

Interest Payment Dates:	On the 3rd of each March, June, September, December
and on the Maturity Date

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.

Initial Interest
Calculation Period:	Notwithstanding anything to the contrary in the
Issuer's prospectus and prospectus supplement relating to the offering of
these Notes, the first Interest Calculation Period will be the period
from and including December 1, 2008 to and excluding
March 3, 2009

Interest Determination Date:  Second London Banking Day preceding
			      each Interest Reset Date

Day Count Convention:	Actual/360

Business Day Convention:  Modified Following, adjusted

Business Days:		New York and London

Governing Law:		New York

Calculation Agent:	Deutsche Bank Trust Company Americas

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

Agent:			J.P. Morgan Securites Inc.

DTC Number:		#187

Capitalized terms used herein but not otherwise defined shall have the
meanings assigned to them in the prospectus dated March 7, 2006 and
prospectus supplement thereto dated March 7, 2006 relating to these notes.

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 web
at www.sec.gov.  Alternatively, the issuer, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you
request it by calling collect 1-212-834-4533.

Any disclaimer or other notice that may appear below is not applicable to this
communication and should be disregarded.  Such disclaimer or notice was
automatically generated as a result of this communication being sent by
Bloomberg or another email system.