Solving the stability region in the plane motion of vehicles has become a hot research topic in vehicle handling stability under extreme conditions, but there is still a lack of research on the stability region under steering and braking conditions. In this paper, a five-degree-of-freedom (5DOF) nonlinear dynamic model of a vehicle with braking torque introduced is established, and the model is transformed into an equivalent system by using the D’Alembert principle. Then, the equilibrium points of the equivalent system are solved by using an improved hybrid algorithm combining the genetic algorithm (GA) and sequential quadratic programming (SQP) method. According to the bifurcation characteristics of the equilibrium points, the boundary of the stability region at the given initial longitudinal velocity is determined, and the three-dimensional stability region is fitted. Finally, the stability region of the equivalent system and the original system are analyzed by the energy dissipation method, and the stability region determined by the equilibrium point bifurcation method is verified by simulation. The results show that as the braking torque increases, the number of equilibrium points increase to three from one, the equilibrium bifurcation method proposed in this paper can effectively solve the stability region of the equivalent system, and the solution results are consistent with the original system stability region. When the limited braking torque is 500 N·m and the initial longitudinal velocity increases from 30 m/s to 50 m/s, the absolute value of the front wheel steering angle at the boundary point changes from less than 0.02 rad to more than 0.02 rad.