EXHIBIT 15.2




February 12, 1998



Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

Ladies and Gentlemen:

We are aware that Toyota Motor Credit Corporation has incorporated by reference
our report dated February 12, 1998 (issued pursuant to the provisions of 
Statement on Auditing Standards No. 71) in the Prospectuses constituting part of
its Registration Statements on Form S-3 (Nos. 33-52359 and 333-26717).  We are 
also aware of our responsibilities under the Securities Act of 1933.

Yours very truly,



/S/ PRICE WATERHOUSE LLP