Car finance FAQs


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Get your car finance questions answered with our FAQs

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We've collected our most frequently asked questions on car finance in the hope of shedding some light on the car finance process. Whether you're in the market for a new car or just want to find out more, we've got it covered. 

Who can apply for Admiral car finance?

To be eligible for a loan you must:

  • be a permanent resident of England, Wales or Scotland,
  • have lived in the UK for at least three years,
  • be aged between 18 and 74 and won’t be 75 or over at the end of the loan term
  • be in employment, or retired and have a minimum annual income of £10,000
  • not have had any County Court Judgements (CCJs) in the last three years
  • not have been made bankrupt, had any Debt Relief Orders or gone through Individual Voluntary Arrangements in the last six years
  • have a UK bank account in your name
  • not be using the car for commercial purposes.

Can I get car finance if I’m self-employed?

Yes, Admiral offers car finance to the self-employed as long as you meet our other criteria, and pass our credit and affordability checks.

What’s the difference between PCP, HP and a personal loan?

PCP and HP are both finance options that are secured against your car. A personal loan is unsecured. For more information about these, read our guide to car finance types

Will a car finance application have an impact on my credit rating?

Before you make a full application, you can get a car finance quote.  This is a soft search which is only visible by you. It will not affect your credit history. You can edit your quote while you’re shopping around for your new car, without affecting your credit rating. Once you have found the car you want, and apply for Admiral car finance, we will then run a full credit check on you which will leave a hard footprint on your credit file.

Why was the APR I was offered different to the representative APR?

The representative APR advertised is the APR that 51% of customers get offered. The actual APR offered depends on the amount you want to borrow along with your personal circumstances, financial circumstances and credit history.

Do I need to know the car reg I’m buying before getting a car finance quote?

If you’re not sure which car you’re going to buy, you can get an indicative car finance quote which will confirm if you’re eligible for Admiral car finance (subject to affordability, fraud and vehicle checks. Once you know which car you’re going to buy and you can give us the car registration number, we can give you a fully accurate quote.

Can I part-exchange my current car?

We don’t currently offer part exchange as part of Admiral Car finance. However, if you speak with the dealership you are getting your new car from they may be able to part-exchange your car. You can then enter that amount into the ‘deposit’ section.

How long does Admiral take to the pay the dealership for my car?

If you choose our PCP or HP options, we pay the dealer directly. As soon you give us the dealership details we will contact them, verify their details and pay them – this usually takes a couple of hours but can take as long as one working day.

I’ve chosen the Admiral car finance unsecured personal loan option – how long does it take to come through?

The money will go into your bank account, just after lunch time, on the third working day.

What car can I get on finance?

We offer finance for used cars and nearly-new cars that are valued up to £35,000. We don’t offer finance for brand new cars, electric cars, commercial vehicles, motorbikes, caravans or motor homes.

Can I get car finance for an electric car?

Sorry, we don’t offer finance for electric cars at the moment.

Can I buy a car from any dealership using Admiral car finance?

We work with the majority of UK dealerships.

What is APR?

APR stands for Annual Percentage Rate. This is the total charge for the loan including fees and interest expressed as a percentage. The APR you're offered may differ from the representative example displayed. This is because each loan application is assessed on an individual basis and on a number of factors, including the information you have provided in your application and data obtained from credit reference agencies. Read more about ‘what is APR’ here.

What ‘personal circumstances’ could affect the finance rate I’m offered?

The APR and the interest rate we offer are determined by the personal and financial details you supply, along with an independent verification of your credit and repayment history, using information held by credit reference agencies (e.g. Experian, Call credit, Equifax).

I’m a car dealer, can you help my customers with car finance?

We’d love to! Admiral car finance is only available directly to customers; we don’t sell it through car dealers, so please direct your customers to us here at

What is AFSL: Admiral Financial Services Ltd?

Admiral loans and car finance are now administered and arranged by a new company called AFSL which stands for Admiral Financial Services Ltd. This is still a part of Admiral but a separate trading company to EUI Ltd.

Admiral Financial Services Limited is registered in England and Wales at Tŷ  Admiral, David Street, Cardiff, CF10 2EH (Reg. No. 10255225). Admiral Financial Services Limited is authorised and regulated by the Financial Conduct Authority (Firm reference number: 771862).

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