<PAGE>
                              UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION

                          Washington, D.C. 20549

                    ----------------------------------


                                 FORM 8-K

                              CURRENT REPORT


                  Pursuant to Section 13 or 15(d) of the
                     Securities Exchange Act of 1934



      Date of Report (Date of earliest event reported):    October 26, 1998
                                                           ----------------




                       Toyota Auto Lease Trust 1997-A
           ------------------------------------------------------
           (Exact name of registrant as specified in its charter)





    California                   333-26717                     33-0755530
-------------------           ----------------            -------------------
  (State or other               (Commission                  (IRS Employer
  jurisdiction of               File Number)              Identification No.)
   incorporation)




            Toyota Leasing, Inc.
         19001 South Western Avenue
            Torrance, California                                 90509
----------------------------------------------            -------------------
   (Address of principal executive offices)                    (Zip Code)



Registrant's telephone number, including area code:         (310) 787-1310
                                                          -------------------


                          Exhibit Index is on Page 2

                                 Page 1 of 3



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Item 2.  Acquisition or Disposition of Assets
                    ------------------------------------


Exhibit 20(b) provides supplemental information for the subsequent contracts 
acquired under the Toyota Auto Lease Trust 1997-A between April 1, 1998 and 
September 30, 1998, which in aggregate exceeded 10% of the Initial Aggregate 
Net Investment Value during the month of September 1998.

Item 5.  Other Events
  -------------

On October 26, 1998, interest collected during the preceding calendar month as 
provided for in the 1997-A Securitization Trust Agreement dated as of 
September 1, 1997 between Toyota Leasing, Inc. ("TLI"), as "Transferor", and 
U.S. Bank National Association ("USBNA"), as "Trustee", and the 1997-A SUBI 
Servicing Supplement to the Amended and Restated Trust and Servicing 
Agreement, dated October 1, 1996, among TMTT, Inc., as "Titling Trustee", 
Toyota Motor Credit Corporation ("TMCC"), as "Servicer", and USBNA, as "Trust 
Agent" (the "Agreements"), was allocated to the holders of certificates 
representing undivided fractional interests in the Toyota Auto Lease Trust 
1997-A (the "Certificateholders").  In accordance with the Agreements, the 
Servicer's Certificate, as defined in the Agreements, was furnished to the 
Trustee for the benefit of the Certificateholders and was distributed by the 
Trustee to the Certificateholders.  A copy of the Servicer's Certificate for 
the month of September 1998 is filed as Exhibit 20(a) to this Current Report 
on Form 8-K.



Item 7(c).  Exhibits

            Exhibit Number    Description
            --------------    -----------

                 20(a)        Servicer's Certificate for the month of
                              September, 1998.

                 20(b)        Composition of Aggregate Revolving Period
                              Subsequent Contracts Allocated between
                              April 1, 1998 and September 30, 1998.















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                                 SIGNATURES
                                 ----------


Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned hereunto duly authorized.


                             TOYOTA AUTO LEASE TRUST 1997-A

                             BY:  TOYOTA MOTOR CREDIT CORPORATION, AS SERVICER


Date:  November 9, 1998        By:          /S/ GREGORY B. WILLIS
       ----------------            -----------------------------------------
                                                Gregory B. Willis
                                   Vice President-Finance and Administration
                                           (Principal Accounting Officer)





































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