Admiral Finance Car Loan Review

Admiral Finance Car Loan
Admiral Finance Car Loan
  • Borrow up to $50,000
  • Bad credit options
  • Flexible repayments
  • Same-day funds upon approval
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You could qualify for an Admiral Finance secured loan from $1,000 to $50,000, even if you have bad credit.

Admiral Finance offers secured loans for a wide range of vehicles including new and used cars, motorbikes and boats. If you apply during business hours, you could receive your funds the same day for an additional fee.

We’ll help you decide if an Admiral Finance car loan is right for you.

Product NameAdmiral Finance Car Loan
Interest Rate (p.a.)13.95% - 23.95%
Min. Loan Amount$1,000
Max. Loan Amount$50,000
Loan SecuritySecured
Loan TermUp to 5 years
Turnaround Time60 minutes response during business hours
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Establishment Fee$125 - $595 depending on loan size
Early Termination Fee$40
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Requirements*Must hold NZ permanent residency
*Should have collateral/security
*Must earn at least $400 per week
*Photo NZ ID (NZ Drivers Licence, NZ passport)
Minimum Age18
Minimum Income$400 per week
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Pros and cons


  • Borrow up to $50,000
  • Low minimum loan amount of $1,000
  • Bad credit options


  • Loans require an asset as collateral
  • If you are between 18 and 21, you will need a guarantor for your loan
  • Not available for those with a learner licence

Main points to consider with an Admiral Finance car loan

Admiral Finance offers car loans between $1,000 and $50,000. Loans have annual interest rates of 13.95% - 23.95% and can be taken out for terms of 6 months to 5 years. All Admiral Finance loans require an asset as collateral, such as your home or personal possessions. You may also be able to secure your car loan against your new vehicle.

Features of a car loan from Admiral Finance

  • Interest rates of 13.95% - 23.95% p.a. Interest rates are based on individual financial situations and the collateral offered for the loan.
  • Flexible loan limits. With an Admiral Finance car loan, you can borrow as little as $1,000 or as much as $50,000, depending on your needs and your current financial circumstances.
  • Flexible loan terms. Loan terms range from 6 months to 5 years. Your loan term depends on your ability to repay the loan and your collaters. If you use property or land as collateral, you could have a loan term of up to 5 years.
  • Bad credit options. Admiral Finance does not have a minimum credit score requirement.
  • Same-day funds. If you apply during business hours, an Admiral Finance representative will get in touch within one hour. If your loan is approved during business hours, you can get your money the same day for an additional fee. If not, funds are usually deposited the next business day.
  • Get your dream vehicle. Loans are available for a variety of cars, motorbikes, vans, commercial vehicles and boats.
  • Flexible repayments. You can repay your loan in weekly, fortnightly or monthly repayments to suit your individual needs.
  • No early repayment fee. There are no early repayment fees for loans taken out after 1 July 2017.
  • 5-minute online application. The process of applying for an Admiral Finance car loan can be completed online in just minutes.
  • Insurance options. Admiral Finance offers vehicle insurance so you can get everything you need for your new car all in one place.
  • Responsible lending. Admiral Finance is a New Zealand Registered Financial Services Adviser.

How much does the loan cost?

The following fees may apply to your Admiral Finance loan:

  • Application fee. This fee ranges from $125 - $595 depending on loan size.
  • Administration fee. A fee of $12 per month will be added to your loan to cover administrative costs.
  • Security variation fee. A fee of up to $150 applies if you want to change the collateral on an existing loan.
  • Loan withdrawal or variation fee. Fee ranges from $95 to $250 per additional advance.
  • Refund fee. If you overpay a repayment and want a refund, a fee of up to $50 may apply.
  • Default fees. If you are unable to make your repayments, default fees and other default related charges may apply.
  • Additional statement fee. While there is no charge for regular statements, if you request additional statements, a fee of $10 per additional statement applies.
  • Collateral inspection and mortgage fees. Additional fees may apply if you use property as collateral for your loan.

How to apply for an Admiral Finance car loan

You can apply for an Admiral Finance car loan by clicking the green “Go to Site” link on this page. To be eligible you must, at a minimum:

  • Be at least 18 years old. If you are between 18 and 21 years old, you need a guarantor for your loan
  • Be a New Zealand citizen or permanent resident
  • Have a valid New Zealand driver’s licence or passport
  • Earn at least $400 per week
  • Be able to secure your loan against an asset such as a motor vehicle, personal possessions, a house, land or boat
  • Have a reasonable credit history
  • Not be currently bankrupt or hold a No Asset Procedure
  • Hold a minimum of a Restricted Licence

When applying you will need to provide:

  • Proof of identity. Two forms of ID are required with all applications for Admiral Finance loans. This includes at least one photo ID such as a driver’s licence or passport and a secondary ID such as a bank card or birth certificate.
  • Driver’s licence. To take out an Admiral Finance car loan you must provide a minimum of a restricted driver’s licence. Learner licences are not accepted.
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