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

Pricing Supplement dated January 8, 2009
(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: 89233P3B0

Principal Amount (in Specified Currency): $150,000,000.
TMCC may increase the Principal Amount prior to the Original Issue Date
but is not required to do so.

Issue Price: 100%

Trade Date: January 8, 2009

Original Issue Date: January 13, 2009

Stated Maturity Date: January 14, 2010

Initial Interest Rate: Three month LIBOR determined on January 9, 2009
plus 1.25%, accruing from January 13, 2009

Interest Payment Period: Quarterly

Interest Payment Dates: April 14, 2009, July 14, 2009, October 14, 2009
and on the Stated Maturity Date

Net Proceeds to Issuer: $149,955,000

Agents' Discount or Commission: 0.03%

Agents: Banc of America Securities 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 (+/-): + 1.25%
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: April 14, 2009

Interest Rate Reset Period: Quarterly

Interest Reset Dates: April 14, 2009, July 14, 2009 and October 14, 2009

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 and subject to the conditions of an Appointment Agreement
dated January 8, 2009 (the "Appointment Agreement") between TMCC and Banc
of America Securities LLC ("BofA"), BofA, acting as principal, has agreed
to purchase and TMCC has agreed to sell the Notes identified herein.
Under the terms and subject to the conditions of 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, which is
incorporated by reference in the Appointment Agreement, BofA is
committed to take and pay for all of the Notes offered hereby, if any are
taken.