Filed Pursuant to Rule 433

Registration No. 333-252342

Term Sheet
August 17, 2023

Issuer:	Toyota Motor Credit Corporation
Security:	Floating Rate Medium-Term Notes, Series B
Issuer Senior Long-Term Debt Ratings:	Moody’s Investors Service, Inc.: A1 (stable outlook) S&P Global Ratings: A+ (stable outlook) Fitch Ratings: A+ (stable outlook)
CUSIP:	89236TKY0
Trade Date:	August 17, 2023
Original Issue Date:	August 22, 2023 (T+3)
Stated Maturity Date:	August 22, 2024
Principal Amount:	$1,425,000,000 (may be increased prior to the Original Issue Date)
Price to Public:	100.000%
Commission:	0.030%
Net Proceeds to Issuer:	99.970% / $1,424,572,500
Interest Rate Basis:	SOFR
Spread:	+52 basis points
Minimum Interest Rate:	0.000%
Interest Payment Frequency:	Monthly
Initial Interest Rate:	The initial interest rate will be based on SOFR determined as of August 18, 2023, plus the Spread.
Interest Payment Dates:	Each January 22, February 22, March 22, April 22, May 22, June 22, July 22, August 22, September 22, October 22, November 22, and December 22, beginning on September 22, 2023, and ending on the Stated Maturity Date.
Interest Reset Dates:	Each U.S. Government Securities Business Day in the relevant Interest Payment Calculation Period.  The first interest reset date shall be the Original Issue Date and thereafter, each U.S. Government Securities Business Day.
Interest Determination Date: Interest Payment Calculation Period:	The second U.S. Government Securities Business Day preceding the relevant Interest Reset Date. The period from and including one Interest Payment Date to but excluding the immediately following Interest Payment Date, provided that the first Interest Payment Calculation Period shall be from and including the Original Issue Date to but excluding the first Interest Payment Date.
Day Count Convention:	Actual/360
Business Day Convention:	Modified Following, adjusted
Business Days:	New York and U.S. Government Securities Business Day
Governing Law:	New York
Calculation Agent:	Deutsche Bank Trust Company Americas
Minimum Denominations:	$1,000 and $1,000 increments thereafter
Agents/DTC Numbers:	Mizuho Securities USA LLC/#2396 SG Americas Securities, LLC

A securities rating is not a recommendation to buy, sell or hold securities and may be subject to withdrawal at any time.

This term sheet supplements the prospectus supplement dated January 25, 2021 and the related prospectus dated January 22, 2021; capitalized terms used in this term sheet, but otherwise not defined, shall have the meanings assigned to them in the prospectus supplement and the related prospectus.

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 supplement and the related prospectus 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 Mizuho Securities USA LLC toll free at 1-866-271-7403 or SG Americas Securities, LLC toll-free at 1-855-881-2108.

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