Document:

Prepared by MERRILL CORPORATION

   EXHIBIT 4.9  

Class A-3 Confirmation

to the

ISDA Master Agreement

dated as of January 29, 2002 

Toyota
Auto Receivables 2002-A Owner Trust

c/o First Union Trust Company, National Association

One Rodney Square

920 King Street, Suite 102

Wilmington, Delaware 19801 

        Re:    Transaction
Ref. No. 1 between Toyota Motor Credit Corporation ("Party A") and Toyota Auto Receivables 2002-A Owner Trust ("Party B") 

Ladies
and Gentlemen: 

        The
purpose of this letter agreement is to confirm the terms and conditions of the Swap Transaction entered into between you and us on the Trade Date specified below (the "Transaction").
This letter agreement constitutes a "Confirmation" as referred to in the ISDA Master Agreement specified below. 

        The
definitions and provisions contained in the 2000 ISDA Definitions, as supplemented by the Annex to the 2000 ISDA Definitions, each published by the International Swaps and
Derivatives Association, Inc. (collectively, the "Definitions"), are incorporated in this Confirmation. In the event of any inconsistency between those Definitions and this Confirmation, this
Confirmation will govern. 

        1.    This
Confirmation supplements, forms part of, and is subject to, the ISDA Master Agreement, dated as of January 29, 2002, as amended and supplemented from time to
time (the "Agreement"), between you and us. All provisions contained in the Agreement govern this Confirmation except as expressly modified below. Expressions used herein and not defined herein or in
the Definitions shall bear the meaning ascribed thereto in the Agreement. 

        2.    The
terms of the particular Transaction to which this Confirmation relates are as follows: 

	Party A:	 	Toyota Motor Credit Corporation
	

Party B:	
 	

Toyota Auto Receivables 2002-A Owner Trust
	

Trade Date:	
 	

January 29, 2002
	

Effective Date:	
 	

January 29, 2002
	

Termination Date:	
 	

The earlier of (i) the Class A-3 Final Scheduled Payment Date (as defined in the Indenture) or (ii) the Payment Date (as defined in the Indenture) on which the principal balance of the Class A-3 Notes is reduced to zero, in either case subject to
adjustment in accordance with the Following Business Day Convention.
	

Party A Floating Amounts:	
 	

 
	 	

Party A Floating Rate Payer:	
 	

Party A  

1

 

	 	

Party A Floating Rate Payer Notional Amount:	
 	

The Class A-3 Note Balance (as defined in the Indenture) on the first day of the applicable Calculation Period.
	 	

Party A Floating Rate Payer Period End Dates:	
 	

The 15th day of each calendar month, commencing on February 15, 2002, up to and including the Termination Date, subject to adjustment in accordance with the Following Business Day Convention.
	 	

Party A Floating Rate Payer Payment Dates:	
 	

The Business Day immediately preceding each Period End Date, or if Party B has agreed, the 15th day of each calendar month, commencing on February 15, 2002, up to and including the Termination Date, subject to adjustment in accordance with
the Following Business Day Convention.
	 	

Party A Floating Rate Option:	
 	

USD-LIBOR-BBA.
	 	

Designated Maturity:	
 	

One month.
	 	

Spread:	
 	

Plus 0.06%
	 	

Party A Floating Rate Day Count Fraction:	
 	

Actual/360
	 	

Reset Dates:	
 	

The first day of each Calculation Period.
	 	

Compounding:	
 	

Inapplicable.
	

Party B Fixed Amounts:	
 	

 
	 	

Party B Fixed Rate Payer:	
 	

Party B
	 	

Party B Fixed Rate Payer Notional Amount:	
 	

The Class A-3 Note Balance on the first day of the applicable Calculation Period.
	 	

Party B Fixed Rate Payer Period End Dates:	
 	

The 15th day of each calendar month, commencing on February 15, 2002, with no adjustment.
	 	

Party B Fixed Rate Payer Payment Dates:	
 	

The 15th day of each calendar month, commencing on February 15, 2002, up to and including the Termination Date, subject to adjustment in accordance with the Following Business Day Convention.
	 	

Party B Fixed Rate	
 	

3.444%
	 	

Party B Fixed Rate Day Count Fraction:	
 	

30/360
	 	

Fixed Rate Compounding:	
 	

Not applicable.
	

Business Days:	
 	

Any day other than a Saturday, a Sunday or a day on which banking institutions or trust companies in New York, New York, Minneapolis, Minnesota, Wilmington, Delaware or San Francisco, California are authorized or obligated by law, regulation or
executive order to remain closed.
	

Calculation Agent:	
 	

Party A  

2

 

	

3.    Account Details	
 	

 
	

Payments to Party A:	
 	

 
	 	

Account for Payments in USD:	
 	

Bank of America, Concord, California ABA No. 121-000-358 A/C No. 12351-07564 A/C Toyota Motor Credit Corporation
	

Payments to Party B:	
 	

 
	 	

Account for Payments in USD:	
 	

Wells Fargo Bank Minnesota, National Association

ABA No.

BNF:

A/C No.

For further credit to:

A/C Toyota Auto Rec Trust 2002-A #
	

4.    Party A Documentation and Operations Officers	
 	

 
	

Documentation:	
 	

Carolee Furukawa

Phone: 310-468-6806

Fax: 310-468-5715
	

Operations:	
 	

Carolee Furukawa

Phone: 310-468-6806

Fax: 310-468-5715

	5.
	Relationship
between Parties: 

        Each
party will be deemed to represent to the other party on the date on which it enters into the Agreement that (absent a written agreement between the parties that expressly imposes
affirmative obligations to the contrary): 

Non-Reliance. It is acting for its own account, and it has made its own independent decisions to enter into the Agreement and as to whether
the Agreement is appropriate or proper for it based upon its own judgment and upon advice from such advisers as it has deemed necessary. It is not relying on any communication (written or oral) of the
other party as investment advice or as a recommendation to enter into the Agreement; it being understood that information and explanations related to the terms and conditions of the Agreement shall
not be considered investment advice or a recommendation to enter into the Agreement. No communication (written or oral) received from the other party shall be deemed to be an assurance or guarantee as
to the expected results of the Agreement. 

Assessment and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice),
and understands and accepts, the terms, conditions and risks of the Agreement. It is also capable of assuming, and assumes, the risks of the Agreement. 

Status of Parties. The other party is not acting as a fiduciary for or as adviser to it in respect of the Agreement. 

	6.
	Governing
Law: New York 

3

        Please
confirm that the foregoing correctly sets forth the terms of our agreement by executing the copy of this Class A-3 Confirmation enclosed for that purpose and
returning it to us. 

	 	 	TOYOTA MOTOR CREDIT CORPORATION
	

 	
 	

By:	
 	

/s/  GEORGE E. BORST      

	 	 	 	 	Name: George E. Borst

Title: President and Chief Executive Oficer
	

 	
 	

Confirmed as of the date first written:
	

 	
 	
TOYOTA AUTO RECEIVABLES 2002-A OWNER TRUST
	

 	
 	

By:	
 	

FIRST UNION TRUST COMPANY, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee
	

 	
 	

By:	
 	

/s/  STERLING C. CORREIA      

	 	 	 	 	Name: Sterling C. Correia

Title: Vice President

S-1Prepared by MERRILL CORPORATION

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EXHIBIT 4.10  

  
 

    ASSIGNMENT OF SWAP AGREEMENT    
  

        ASSIGNMENT OF SWAP AGREEMENT (the "Assignment") dated as of January 29, 2002, by and among TOYOTA AUTO RECEIVABLES 2002-A OWNER TRUST, a
Delaware business trust (the "Assignor" or the "Trust"), WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION, not in its individual capacity but as Indenture Trustee (the "Assignee") of the Toyota Auto
Receivables 2002-A Owner Trust pursuant to the Indenture, dated as of January 1, 2002 (the "Indenture"), by and between the Trust and the Indenture Trustee, and TOYOTA MOTOR CREDIT
CORPORATION, as swap counterparty. 

        All
capitalized terms used herein without definition shall have the meanings ascribed thereto in the Indenture. 

W
I T N E S S E T H: 

        WHEREAS,
the Trust has acquired a pool of new and used automobile and light duty truck retail installment sales contracts originated by Toyota and Lexus dealers (the "Receivables") and
related property from Toyota Auto Finance Receivables LLC ("TAFR LLC"), a Delaware limited liability company; 

        WHEREAS,
the Assignor is granting to the Assignee all of the Issuer's right, title and interest in and to the Receivables and other interest to be evidenced by certain asset backed notes
(the "Notes") and Certificates issued by the Trust; 

        WHEREAS,
the Trust and Toyota Motor Credit Corporation (the "Counterparty") have entered and/or anticipate entering into one or more transactions that are or will be governed by that
certain ISDA Master Agreement, dated as of January 29, 2002 ("Master Agreement"), which includes a schedule (the
"Schedule"), the Class A-2 Confirmation to the ISDA Master Agreement, dated as of January 29, 2002 (the "Class A-2 Confirmation"), and the
Class A-3 Confirmation to the ISDA Master Agreement, dated as of January 29, 2002 (the "Class A-3 Confirmation" and together with the
Class A-2 Confirmation, the Master Agreement and the Schedule, the "Swap Agreement"); 

        WHEREAS,
Assignor desires to assign all of its rights, title and interest in and to the Swap Agreement to Assignee; and 

        NOW,
THEREFORE, in order to induce Assignee to enter into the Indenture, Assignor does hereby assign, transfer, grant and set over to Assignee all of Assignor's right, title and interest
in and to the Swap Agreement, as more particularly provided herein, and subject to the terms and conditions more fully set forth herein: 

	A.
	Subject
to the provisions of Paragraph E below, Assignor hereby irrevocably authorizes and directs the Counterparty to perform directly to, or as directed by, Assignee, and to
remit any and all payments due under the Swap Agreement to Assignee, from and after the date hereof.

	B.
	All
notices, demands, requests, consents, approvals and other instruments under this Assignment shall be in writing and shall be sent and shall be deemed to have been actually or
properly given if and when given in accordance with the notice provisions of the Notes.

	C.
	Anything
contained herein or in the Notes, the Indenture or any other security documents to the contrary notwithstanding, Assignee's recourse for the performance of all of the
obligations and liabilities of Assignor under this Assignment shall be limited to the same extent as, and for the protection of the same persons and entities described in, the Swap Agreement. 

1

 
	D.
	Except
as otherwise expressly provided, nothing contained herein shall operate or be construed to impose any obligation upon the Assignee with respect to the Swap Agreement.

	E.
	1.     This
Assignment and all rights hereunder assigned to Assignee shall cease and terminate upon payment in full by

        the Assignor of the principal amount of and interest on the Notes and any that are then due and payable.

	2.
	In
addition, in the event that any portion of the Swap Agreement is sold, assigned or otherwise disposed of in connection with a redemption or prepayment of the
Class A-2 Notes and the Class A-3 Notes, such portion of the Swap Agreement shall be released from this Assignment.

	3.
	In
connection with any release of this Agreement pursuant to this Paragraph E, Assignee shall execute such documents as may be reasonably requested by Assignor to acknowledge
such release. Any documents delivered to confirm such release shall be prepared by counsel for Assignor at Assignor's reasonable expense and shall expressly provide that such confirmation is without
recourse and without any representation or warranty, express or implied (except that Assignee shall represent that such document has been and is duly authorized, that all necessary consents to the
execution and delivery thereof have been obtained and that it has not assigned or encumbered this Swap Agreement). If the Swap Agreement is released in its entirety, Assignee, at the request and sole
cost and expense of Assignor made at the time of any such release, will execute and deliver to Assignor a proper instrument or instruments acknowledging the satisfaction and termination of this
Assignment, and will duly assign and transfer, without recourse and without any representation or warranty, express or implied (except that Assignee shall represent that such termination and such
assignment and transfer has been and is duly authorized, that all necessary consents to the execution and delivery thereof have been obtained and that it has not assigned or encumbered the Swap
Agreement) the Swap Agreement and deliver so much thereof as shall be in its possession and as has not theretofore been sold or otherwise applied or released pursuant to this Assignment, together with
any moneys at the time held by Assignee hereunder and not applied to the payment of the secured obligations of Assignor. 

	F.
	THIS
ASSIGNMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

	G.
	This
Assignment shall be binding upon and shall inure to the benefit of the heirs, legal representatives, successors and assigns of Assignor and Assignee.

	H.
	This
Assignment is executed and delivered by First Union Trust Company, National Association ("First Union"), not individually or personally but solely as trustee of the Trust in the
exercise of the powers and authority conferred and vested in it and the representations, undertakings and agreements herein made on the part of the Trust are made and intended not as personal
representations, undertakings and agreements by First Union but are made and intended for the purpose of binding only the Trust. The parties hereto acknowledge that under no circumstances shall First
Union be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or
undertaken by the Trust under this Assignment. 

[Remainder
of the page intentionally left blank.] 

2

        IN
WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written. 

	 	 	ASSIGNOR:
	

 	
 	
TOYOTA AUTO RECEIVABLES 2002-A OWNER TRUST
	

 	
 	

By:	
 	

First Union Trust Company, National Association, not in its individual capacity but solely as Owner Trustee on behalf of the Issuer
	

 	
 	

By:	
 	

/s/  STERLING C. CORREIA      

	 	 	 	 	Name: Sterling C. Correia

Title: Vice President
	

 	
 	

ASSIGNEE:
	

 	
 	

WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION, not in its individual capacity but solely as Indenture Trustee
	

 	
 	

By:	
 	

/s/  MARIANNA STERSHIC      

	 	 	 	 	Name: Marianna Stershic

Title: Vice President
	

 	
 	

COUNTERPARTY:
	

 	
 	
TOYOTA MOTOR CREDIT CORPORATION
	

 	
 	

By:	
 	

/s/  GEORGE E. BORST      

	 	 	 	 	Name: George E. Borst

Title: President and Chief Executive Officer

S-1 

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ASSIGNMENT OF SWAP AGREEMENT

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