What do P.O.I and P.O.R. mean regarding a car loan?

"I want to get a car, but my credit score is 475. A local dealer says they can finance people with bad credit, as long as they present P.O.I. and P.O.R.

What do P.O.I and P.O.R. mean for a car loan?"

Answer provided by
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Eric Schad
Answered on May 28, 2021
“P.O.I stands for proof of income. This is a typical requirement for all car loans. To prove your income, you only need to provide pay stubs for the past several months.
P.O.R. stands for proof of residency. This is a federal requirement to get a car loan. For proof of residency, you can use numerous different documents, including a:
  • Driver’s license
  • Utility bill
  • Phone bill
  • State-issued ID
By providing P.O.I and P.O.R., you’re one step closer to getting a car loan. But, with bad credit, the interest rate might be sky-high.”
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