EXHIBIT 15.2




May 7, 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 May 7, 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