Financing Simulator
Discover the fixed PRICE installment of your vehicle or property.
How does the bank calculate my car payment?
In most vehicle financing and personal loans (and in some real estate), the system used is the so-calledPRICE System (or Price Table)The main feature of this system is that all the installments from the beginning to the end of the contract will have exactly the same value in fixed reais, to safely fit within your salary.
Beware of the Effective Cost
The bank does not simply divide the car's price by 60 months. It applies a mathematical formula that amortizes the compound interest that accrues on the outstanding balance monthly. The illusion of \"installments that fit in your pocket\" hides the fact that in very long financing terms (like 48 or 60 months for vehicles), you may end up paying the equivalent of 1.5 cars, or even 2 cars, just in interest.
Our calculator reveals the inconvenient truth. By entering your input and your bank's interest rate, we highlight the field in redTotal Interest Paidso that you know exactly the size of the prize the bank is receiving for advancing this money to you.