Pricing Supplement dated April 3, 1995                                  Rule 424(b)(3)
(To Prospectus dated March 9, 1994 and                               File No. 33-52359
Prospectus Supplement dated March 9, 1994) 



                            TOYOTA MOTOR CREDIT CORPORATION

                             Medium-Term Note - Fixed Rate

______________________________________________________________________________________


Principal Amount:  $20,000,000                 Trade Date:  April 3, 1995
Issue Price:  100%                             Original Issue Date:  April 20, 1995
Interest Rate:  See Addendum                   Net Proceeds to Issuer:  $19,900,000    
Interest Payment Dates:  October 20            Principal's Discount or
 and April 20, commencing October 20, 1995     Commission:  0.5%
Stated Maturity Date:  April 20, 2002 


______________________________________________________________________________________




Day Count Convention:
     [x]  30/360 for the period from April 20, 1995 to April 20, 2002 
     [ ]  Actual/365 for the period from             to
     [ ]  Other (see attached)                       to

Redemption:
     [ ]  The Notes cannot be redeemed prior to the Stated Maturity Date.
     [x]  The Notes may be redeemed prior to Stated Maturity Date.
          Initial Redemption Date:  April 20, 1996 
          Initial Redemption Percentage:  100%
          Annual Redemption Percentage Reduction:  Not applicable

Repayment:
     [x]  The Notes cannot be repaid prior to the Stated Maturity Date.
     [ ]  The Notes can be repaid prior to the Stated Maturity Date at the option of
          the holder of the Notes.
          Optional Repayment Date(s):
          Repayment Price:     %

Currency:
     Specified Currency:  U.S. dollars
          (If other than U.S. dollars, see attached)
     Minimum Denominations:  
          (Applicable only if Specified Currency is other than U.S. dollars)

Original Issue Discount:  [ ]  Yes     [x] No
     Total Amount of OID:
     Yield to Maturity:
     Initial Accrual Period:

Form:  [x] Book-entry            [ ] Certificated


                              ___________________________
                                 Goldman, Sachs & Co.




                         ADDITIONAL TERMS OF THE NOTES

Interest

      The Fixed Interest Rate applicable to the Medium-Term Notes
offered by this Pricing Supplement (the "Notes") shall be 7.45%
from the Original Issue Date to but excluding April 20, 1996.
Thereafter, on each anniversary of the Original Issue Date to but
excluding the next succeeding anniversary of the Original Issue
Date, the Fixed Interest Rate shall be as set forth in the
following table:

            Anniversary of Original
                   Issue Date                     Interest Rate

                  April 20, 1996                      7.55%
                  April 20, 1997                      7.65%
                  April 20, 1998                      7.75%
                  April 20, 1999                      8.00%
                  April 20, 2000                      8.25%
                  April 20, 2001                      9.00%

Redemption

      The Notes are subject to redemption by TMCC, in whole but
not in part, on the Initial Redemption Date stated above and on
each Interest Payment Date thereafter subject to not less than 30
nor more than 60 days' prior notice.

Plan of Distribution

      Under the terms of and subject to the conditions of a
Distribution Agreement dated as of October 17, 1991, as amended,
(the "Agreement"), between TMCC and Goldman, Sachs & Co.,
Goldman, Sachs & Co., acting as principal, has agreed to purchase
and TMCC has agreed to sell the Notes at 99.5% of their principal
amount. Goldman, Sachs & Co. proposes to offer the Notes at an
initial public offering price of 100% of the principal amount
thereof.  After the Notes are released for sale to the public,
the offering price may from time to time be varied by Goldman,
Sachs & Co.  

      Under the terms and conditions of the Agreement, Goldman,
Sachs & Co. is committed to take and pay for all of the Notes
offered hereby if any are taken.

Certain U.S. Tax Considerations

The following is a summary of the principal U.S. federal income
tax consequences of ownership of the Notes.  The summary concerns
U.S. Holders (as defined in the Prospectus Supplement) who hold
the Notes as capital assets and does not deal with special
classes of holders such as dealers in securities or currencies,
persons who hold the Notes as a hedge against currency risks or
who hedge any currency risks of holding the Notes, tax-exempt
investors, or U. S. Holders whose functional currency is other
than the U.S. dollar or persons who acquire, or for income tax
purposes are deemed to have acquired, the Notes in an exchange,
or for property other than cash.  The discussion below is based
upon the Internal Revenue Code of 1986, as amended, and final,



temporary and proposed United States Treasury Regulations. 
Persons considering the purchase of the Notes should consult with
and rely solely upon their own tax advisors concerning the
application of U.S. federal income tax laws to their particular
situations as well as any consequences arising under the laws of
any other domestic or foreign taxing jurisdiction.

            Except where otherwise indicated below, this summary
supplements and, to the extent inconsistent, replaces the
discussion under the caption "United States Taxation" in the
Prospectus Supplement.

            U.S. Holders.  In general, under the Treasury
Regulations regarding the determination and taxation of OID, a
debt instrument providing for stepped interest rates, such as the
Notes offered hereby, will be treated as having been issued with
OID in an amount equal to the excess of the aggregate amount of
stated interest on such debt instrument (i.e., the aggregate
stated coupon payments) over the aggregate amount of qualified
stated interest on the debt instrument (i.e., the aggregate
portion of each stated coupon payment equal to the lowest stated
coupon payment).  However, the regulations set forth special
rules for determining yield and maturity for debt instruments
such as the Notes which provide the issuer with an unconditional
option or options, exercisable on one or more dates during the
term of the debt instrument.  Under these rules, the issuer will
be deemed to exercise such option or combination of options in a
manner that minimizes the yield on the debt instrument.

            Applying the foregoing rules to the Notes,
notwithstanding the possibility that they will be outstanding
until the Stated Maturity Date, the Notes are treated as if they
will be redeemed on the Initial Redemption Date stated above and
as not having any OID.  Thereafter, if the Company does not
redeem the Notes on the Initial Redemption Date or on any
subsequent Interest Payment Date, solely for purposes of
determining the accrual of OID, the Notes are treated as being
issued on the Initial Redemption Date and on each anniversary of
the Original Issue Date thereafter for an additional one year
term at their adjusted issue price.  Under the foregoing
principles, the amounts payable with respect to a Note at the
Fixed Interest Rate will be deemed to be qualified stated
interest includible in income by a U.S. Holder as ordinary
interest at the time the interest payments are accrued or
received in accordance with such U.S. Holder's regular method of
tax accounting, unless the IRS determines that the debt
instrument was structured in an abusive manner (i.e., a principal
purpose in structuring the debt instrument or in applying the OID
regulations was to achieve a result that is unreasonable in light
of the purposes of the applicable statutes).  Based upon the
foregoing, the Notes offered hereby should not be deemed to have
been issued with OID and payments of interest on the Notes should



be includible in income by a U.S. Holder as ordinary interest at
the time such payments are accrued or are received in accordance
with the U.S. Holder's regular method of tax accounting.  The
Company, where required, currently intends to file information
returns with the IRS treating the Notes offered hereby as not
having been issued with OID and reporting all payments of
interest on the Notes as qualified stated interest.