Car finance FAQs

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.

Please note, if you meet the above criteria this doesn't guarantee your application will be accepted.

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

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.

Before you make a full application, you can get a car finance quote. This is a soft search which is only visible by you and won't 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've found the car you want, and apply for Admiral Car Finance, we'll then run a full credit check on you which will leave a hard footprint on your credit file.

We're currently only able to offer car finance to those with a good, current credit rating. However, there are other lenders in the market who may be able to offer car finance to those with bad credit.

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.

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.

If you're unsure what 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.

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

We don't currently offer a bundled product for both car finance and insurance but you can buy car insurance separately.

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

We work with the majority of UK dealerships.

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

Sorry, we don't currently offer finance for vans.

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 our car finance web page.

Admiral Loans and Car Finance are 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).

We try and give an instant decision, but sometimes your application might be referred to our Underwriting team. Once you've been approved, we may be able to pay the dealer on the same day (working days only).

To get a quote or to speak to one of our friendly members of staff please contact 0333 234 9917.

Opening hours:
Monday - Thursday: 8am - 8pm
Friday: 8am - 6pm
Saturday: 9am - 5pm
Sunday: Closed

We complete dealership checks as part of the application process to confirm if the dealership is a VAT-registered company, to prevent fraud and to make sure your car purchase runs as smoothly as possible. If you're approved, we also use this information to transfer the funds straight to the dealership.

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. Please note, we don't currently pay out on weekends.

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

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 such as Experian, Call credit and Equifax.

All applications are assessed using your personal details and information provided by a Credit Reference Agency. Unfortunately, not every application will meet our business criteria. Below are a few potential reasons we may be unable to offer you car finance;

1. Credit rating – your application might have been unsuccessful due to information on your credit file held by credit reference agencies
2. Affordability – as a responsible lender we need to make sure that if we're lending money, customers can afford to pay it back; so maybe you haven't met our affordability rules
3. Business rules – loan companies use rules known as 'underwriting criteria' based on risk and business strategy to help decide whether to offer a loan; so, you may not have met our underwriting criteria at this time

If you would like to know what information is held by the credit reference agencies you can contact them directly:

• www.equifax.co.uk: Customer Service Centre, PO BOX 10036, Leicester LE3 4FS
• TransUnion (formerly Callcredit): Consumer Services Team, One Park Lane, Leeds, LS3 1EP

We're planning to launch an online portal soon. Watch this space...

Unfortunately, no. You need to estimate your annual mileage as accurately as possible before signing your agreement. If you go over your annual mileage allowance you'll be charged a fee per mile at the end of your agreement.

Unfortunately, you are unable to change your car mid-agreement. The only way this will be possible is to settle the existing car finance and open a new agreement.

No, you're not obliged to get your car serviced by a franchise dealer. Instead, you can choose to use an independent garage. If you chose not to get your vehicle serviced, this could reduce the value of your car.

You can repay the outstanding balance in full at any time under this agreement. We'll give you a settlement figure which will take into account any interest rebate you may be entitled to.

You're within your rights to voluntarily terminate once you've repaid 50%, or more, of the amount owed; this includes your loan amount, deposit and interest. This won't affect your credit rating.

Once you've repaid 50% or more of the total amount owed (including your loan amount, deposit and interest) you're within your rights to hand the car back to us.

If you've paid less than 50% you still have options to hand the vehicle back, please call us on 0333 234 9917 to discuss. Please note, excess mileage charges may apply if you cover more than your agreed mileage allowance. Damage charges may apply if the vehicle isn't in good condition.

You'd need to settle your credit agreement before selling the car.

Admiral isn't currently offering the option to refinance your balloon payment with another PCP, but you could look at taking out an unsecured personal loan with Admiral to settle the balloon payment. Read more about refinancing your car.