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R$
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How AffordEMI works out what you can afford in Brazil
Two numbers drive everything on this page: the payment formula lenders use, and the share of your income they will let that payment take. For Brazil the conservative ceiling is 30% of net monthly income across all your obligations, and a stretched approval reaches 40%. The default rate is 24.0% a year on vehicle finance and 28.0% on two-wheelers, which are market averages rather than an offer to you.
The formula
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the amount financed after your down payment, r is the annual rate divided by twelve, and n is the term in months. Reducing balance, monthly rest, no balloon and no final lump sum — every instalment shown clears the debt in full by the end of the term.
Why 30% and not more
Your existing commitments come out first, so what remains is genuinely available rather than theoretical. The dashed mark on the meter sits at 20% of income, which is where most planners put the vehicle on its own, because fuel, insurance, servicing and parking are never inside the instalment. The gap between that dashed mark and the 30% line is the difference between what a lender will approve and what leaves you room to live.
Questions people ask about car finance in Brazil
Why is the interest rate so much higher than in other countries?
Because the Selic rate and the credit risk premium in Brazil are among the highest in this calculator, vehicle financing runs above 20% a year. That single fact dominates everything else: at those rates, a longer term costs enormously more, and the total interest on a 60-month loan can approach the price of the car itself. Check the total interest line on every card before you commit.
What is the CET and why does it differ from the advertised rate?
The custo efetivo total folds in IOF, registration of the lien, insurance sold with the deal and any administrative fees. It is always higher than the headline rate and it is the only number worth comparing across lenders. Brazilian law requires it to be disclosed — ask for it in writing before signing.
How much of my income should the instalment be?
Comprometimento de renda near 30% is the conservative ceiling used here, tighter than in most other markets precisely because the interest is so high. At these rates an instalment that looks manageable at signing becomes punishing if your income drops, and repossession happens quickly.
Is a consórcio better than financing?
A consórcio has no interest, only an administration fee, so the total cost is usually far lower. The catch is that you do not choose when you get the car — you wait for a draw or bid to be contemplated. If you need the vehicle now, you are comparing a financing cost against a waiting cost. This calculator models financing only.
Where the prices come from
List price before IPVA and emplacamento for popular variants on sale now, curated by hand rather than scraped live. IPVA and registration are charged at the point of licensing and vary by state. Prices move constantly — treat every figure here as a starting point and confirm with the dealer before you commit to anything.
What this page never does
- No account, no login and no email address to run a calculation.
- Your salary is never sent to a server. The maths runs entirely in your browser.
- Sharing a result encodes your inputs into the link, so you choose who sees them.
- No lending, broking or advice. See the disclosure for how this site is funded.