Pricing Supplement dated June 29, 1999                            Rule 424(b)(3)
(To Prospectus dated September 3, 1998 and                    File No. 333-60913
Prospectus Supplement dated September 3, 1998)



                          TOYOTA MOTOR CREDIT CORPORATION
                           Medium-Term Note - Fixed Rate

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Principal Amount:  $100,000,000          Trade Date: June 29, 1999
Issue Price:  100%                       Original Issue Date: July 6, 1999
Interest Rate: 5.76%                     Net Proceeds to Issuer: $100,000,000
Interest Payment Date: July 6, 2000      Principal's Discount or
Stated Maturity Date: July 6, 2000        or Commission: 0.00%


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Day Count Convention:
     [ ]  30/360 for the period from           to
     [x]  Actual/360 for the period from     July 6, 1999 to July 6, 2000
     [ ]  Other (see attached)                       to

Redemption:
     [X]  The Notes cannot be redeemed prior to the Stated Maturity Date.
     [ ]  The Notes may be redeemed prior to Stated Maturity Date.
          Initial Redemption Date:
          Initial Redemption Percentage:
          Annual Redemption Percentage Reduction:

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


                    ___________________________
                               Salomon Smith Barney



                          ADDITIONAL TERMS OF THE NOTES

Plan of Distribution

     Under the terms of and subject to the conditions of a First Amended and
Restated Distribution Agreement dated September 3, 1998 between TMCC and
Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated,
Goldman, Sachs & Co., Lehman Brothers Inc., J.P. Morgan Securities Inc.,
Morgan Stanley & Co. Incorporated and Salomon Smith Barney Inc. (the
"Agreement"), Salomon Smith Barney Inc., acting as principal, has agreed to
purchase and TMCC has agreed to sell the Notes at 100.00% of their principal
amount. Salomon Smith Barney Inc. 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 Salomon Smith Barney Inc.

     Under the terms and conditions of the Agreement, Salomon Smith Barney
Inc. is committed to take and pay for all of the Notes offered hereby if any
are taken.