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

Pricing Supplement dated December 16, 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: 89233P2X3

Principal Amount (in Specified Currency): $35,000,000.
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 16, 2008

Original Issue Date: December 18, 2008

Stated Maturity Date: January 15, 2010

Initial Interest Rate: Three month LIBOR determined on
December 15, 2008 plus 1.05%, accruing from December 18, 2008

Interest Payment Period: Quarterly

Interest Payment Dates: March 18, 2009, June 18, 2009, September 18, 2009,
December 18, 2009 and on the Stated Maturity Date

Net Proceeds to Issuer: $34,947,500

Agent's Discount or Commission: 0.15%

Agent: Toyota Financial Services Securities USA Corporation

Agent's Capacity:
	[X] Agent
	[ ] 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 (+/-): +1.05%
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 18, 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, except with respect to the Initial
	Interest Rate, which is determined as described above

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