R$ 80,000 consórcio over 72 months
- Input
- taxa 14% + reserva 2%
- Expected output
- 1.321 -> 1.607 | total R$ 105.140
With 0.04% monthly insurance and a 4.5% index.
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car consorcio or car loan brazil is it worth it
Pick Vehicle in the calculator and fill in the credit letter, term and fees of the consórcio and the loan interest. Under advanced, enter the monthly cost of going without the car: it decides whether waiting pays off.
With 0.04% monthly insurance and a 4.5% index.
Without IOF and with 1% in fees.
Investing the payment delivers the car only in month 58.
After that, the loan costs less.
The costlier the wait, the earlier it flips.
Compare with the loan CET.
It depends on when you need the asset and what money earns. For a R$ 300,000 home, a 180-month consórcio with an 18% admin fee and 2% reserve fund, a 15-year SAC loan at 11.5% with R$ 60,000 down, index and appreciation of 4.5% and fixed income at 10% gross, the consórcio contemplated in month 36 costs about R$ 289,000 in today's money, against R$ 350,000 for the loan. Investing the payment and buying in cash costs about R$ 203,000, but the home only arrives in month 120. The more urgent the asset, the more the loan makes sense.
A consórcio is not a loan, and the tool applies no IOF to it. A vehicle loan pays IOF, which banks usually finance along with it; turn on the finance IOF option to include it, using the same formula as the site vehicle calculators.
A consórcio has no down payment: you pay installments to the group. The value of your current car enters the math as a free bid, if you use it for that, or as a lower waiting cost if you keep driving it.
Since the asset is the same on all three paths, depreciation affects them all equally. It enters only through the vehicle price on the purchase date: enter the asset appreciation (it can be negative) to reflect your expectation.
In today's money, the lowest-cost path is: Invest the payment and buy in cash, at R$156,456.
Consórcio contemplated in month 36: R$231,822, against R$302,868 for the loan. That is R$71,046 less.
In any contemplation month, the consórcio comes out cheaper than the loan under these assumptions.
Investing the consórcio payment and buying in cash takes until month 104 to own the asset and costs R$156,456.
Assumptions: asset appreciates 4.7% a year, credit adjusted 4.7% a year, fixed income at 14.8% gross, or 12.6% after the 15% tax, which is also the discount rate.
R$231,822
R$302,868
R$156,456
Present value: the sum of everything that leaves your pocket (down payment, payments, bid, top-up and waiting cost), discounted at 12.6% a year. Lower present value means more wealth at the end, because the asset is the same on all three paths.
If contemplation depended only on a draw, with equal odds every month, the expected cost would be R$225,404 (best month: R$221,402; worst: R$233,514).
| Month | Present-value cost | Versus the loan | Effective cost p.a. | Total paid in contract |
|---|---|---|---|---|
| 1 | R$222,129 | -R$80.7K | 7.5% | R$519,896 |
| 6 | R$227,558 | -R$75.3K | 8.1% | R$519,896 |
| 12 | R$233,514 | -R$69.4K | 8.8% | R$519,896 |
| 24 | R$232,638 | -R$70.2K | 9.8% | R$519,896 |
| 36 | R$231,822 | -R$71.0K | 11.3% | R$519,896 |
| 48 | R$231,064 | -R$71.8K | 13.8% | R$519,896 |
| 60 | R$230,359 | -R$72.5K | 18.1% | R$519,896 |
| 72 | R$229,703 | -R$73.2K | 26.7% | R$519,896 |
| 96 | R$228,526 | -R$74.3K | n/a | R$519,896 |
| 120 | R$227,508 | -R$75.4K | n/a | R$519,896 |
| 150 | R$223,740 | -R$79.1K | n/a | R$519,896 |
| 180 | R$225,525 | -R$77.3K | n/a | R$519,896 |
Green: the consórcio costs less than the loan. Amber: it costs more. Effective cost n/a: what you would already have saved covers over 70% of the credit, and the rate stops being informative.
Simulation with editable assumptions, not advice. Check fees, index, bid and contemplation rules in the group contract and in the bank offer.