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Motor Vehicles
Kelley Blue Book (KBB) Value
If the client requests assistance in determining the FMV of a vehicle, the EW will utilize the online KBB website. Information regarding the vehicle’s year, make, model, and number of doors is required.
When using the online KBB, follow these steps:
- Go to www.kbb.com.
- Select “My Car's Value”.
- Enter the
- Year
- Make
- Model
- Vehicle mileage (12,000 x age of car) ExampleExample
- The client’s zip code or office zip if the client is homeless, then click on “Go”.
- Select “Style”, then click on “Next”.
- Select “Price with Standard Equipment”, color of the vehicle, and “Trading in My Car”, then click on “Next”.
- Select “Get Your Trade-In & Private Party Values”, then click on “Next”.
- On the Select the Vehicle Condition page, select “Fair” as the condition, unless the client indicates otherwise, then click on “Next”.
- The “Trade-In Value” is displayed and will be used as the FMV of the vehicle.
- Print a copy of the “Trade-In Value” page and have it imaged to the case.
Salvage Title
The DMV defines a salvage vehicle as “a vehicle which has been wrecked, destroyed, or damaged to the extent that the insurance company considers it uneconomical to make repairs to the vehicle and the vehicle is not repaired by or for the person who owned the vehicle when the damage occurred.” The vehicle’s title will contain a notation identifying the vehicle as a salvage vehicle. A vehicle with a salvage title must be valued in the same manner as all other vehicles. If the client disagrees with the value determined, they must be given the opportunity to acquire verification of the true value from a reliable source.
Motor Vehicle Examples
Important: The current values must be used in calculations. The examples may not reflect the current values.
The applicant or recipient owns a non-exempt vehicle with an equity value that exceeds $25,483. The AU self-certifies on the CW 80 that the FMV is $35,000, and they owe $5,000. After subtracting the amount owed on the vehicle from the FMV, the EW determines that the equity value of the motor vehicle is $30,000. In this case, the equity value of the vehicle exceeds the $25,483 limit by $4,517. The $4,517 is counted toward the AU’s maximum resource limit. If the AU’s total assets, including the $4,517, fall below the $10,211 (or $15,317 for families with aged/disabled household members) maximum resource limit, the AU is resource-eligible.
Computation of equity counted toward the vehicle resource limit:
$35,000 FMV of the motor vehicle
- $5,000 Less Encumbrances
$30,000 Total Equity Value
- $25,483 Less $25,483
=$ 4,517 Amount Counted Toward Resource Limit
A client who received a vehicle from her father provided the county with verification from the DMV that the vehicle was a gift. Regardless of the value of this motor vehicle, because it was given to her as a gift, the vehicle is completely exempt from consideration as a resource. Even if the FMV of the motor vehicle is well over $25,483, the county may not inquire into or determine the value, or count the value of the motor vehicle toward the AU’s $10,888/$16,333 resource limit. The county wouldn’t need to perform a calculation; however, the client will need to obtain verification from the DMV that the vehicle is a gift/donation or family transfer.
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