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Kia Motors Financing

flyckfly
Established Member

Kia Motors Financing

Anyone who have gone with in-house financing within the last 2 years shed some light on whether or not Proof of Income (POI) was required by KIA or dealer when financing through KMF?

 
If no POI was needed, what credit score did you have?
 
4 REPLIES 4
Loquat
Moderator

Re: Kia Motors Financing

The request for POI is very much specific to the individual. If the bank or dealer sees the need to verify your info then you'll have to provide such if an offer is extended and having such documentation is a conditional or approval.

Any particular reason that having to provide POI poses a problem?
Message 2 of 5
flyckfly
Established Member

Re: Kia Motors Financing


@Loquat wrote:
The request for POI is very much specific to the individual. If the bank or dealer sees the need to verify your info then you'll have to provide such if an offer is extended and having such documentation is a conditional or approval.

Any particular reason that having to provide POI poses a problem?

Most on my income is from another country which poses a problem but my credit here across all 3 bureaus are well into the 800s. I would assume my US income (below 20k) is not nearly enough for a car loan worth 50k. My total credit limit is close to 100k and have not have had to provide POI with any of the credit card companies.

 

What would be some reasons for the need to verify income? 

 

Message 3 of 5
DebtStinks
Established Contributor

Re: Kia Motors Financing

Typically with Kia or Hyundai (HMF/KMF) Tier 4 and above (1, 2, or 3 as well) do not require POI. 640 or 660 score on a bureau they pull.

PenFed Visa Signature $35000 (Opened 6/20) - NFCU More Rewards AMEX (Opened 1/19) $17000 - NFCU Platinum $15000 (Opened 1/21) - Capital One World Elite MC $11200 (Opened 11/17) - TTCU Platinum Visa $10000 (Opened 10/18) - Uber Visa $5000 (Opened 1/19) - Target Store Card $2000 (Opened 10/18) - Floor & Decor Store Card $36500 (Opened 10/18)
Total CL - $131700

CH7 BK Filed 8/1/17 Discharged 11/7/17

Scores as of 2/18/21:




Inquiries Last 12 Months:
Message 4 of 5
flyckfly
Established Member

Re: Kia Motors Financing


@DebtStinks wrote:

Typically with Kia or Hyundai (HMF/KMF) Tier 4 and above (1, 2, or 3 as well) do not require POI. 640 or 660 score on a bureau they pull.


Thanks!

Message 5 of 5
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