To determine the equity value of a vehicle, first determine its fair market value (FMV). The FMV is the value listed in the current NADA online car values and car prices guide.

If the car is not listed, accept the client's statement of its value unless questionable. Request a written statement of a vehicle's FMV from a car dealer licensed in Minnesota if the client's statement is questionable or the client disputes the listed FMV. Do not require a written statement if it will not affect the client's eligibility.

The equity value of a vehicle is the FMV minus any encumbrances.

For procedures on completing the asset panels in MAXIS, see TEMP Manual TE02.10.31 (Jointly Owned Assets).

See 0015.06 (Availability of Assets), 0015.09 (Excluded Assets for Self Support), 0015.39 (Excluded Assets - Vehicles).


MFIP, WB, DWP:
Follow general provisions.

If the unit owns 1 vehicle, exclude the 1st $10,000 of the average trade-in value, if the vehicle is not totally excluded under 0015.39 (Excluded Assets - Vehicles). Count any amount above $10,000 towards the unit’s asset limit.

When the unit owns more than 1 vehicle, follow these steps:

1.	Exclude $10,000 from the average trade-in value of the vehicle with the highest average trade-in value. Count any amount exceeding $10,000 toward the unit’s asset limit.
2.	Determine the combined average trade-in value amount of all other vehicles.
3.	Exclude $7,500 from the amount in Step 2.
4.	Count the remaining amount from Step 3 towards the asset limit.

When determining the value of a vehicle used to transport a disabled unit member, do not count the value of any special equipment.


SNAP:
SNAP has no asset test.


MSA:
For SSI recipients, no county action required.

For non-SSI recipients due to excess income, follow general provisions. Use the NADA average trade-in value to determine the FMV and equity value of all non-excluded vehicles. Count the equity value of each non-excluded vehicle.


GA:
Follow general provisions.

Use the NADA loan value to determine FMV.

When determining the value of a vehicle used to transport a disabled unit member, do not include the value of any special equipment.

A written statement of the vehicle's FMV must be from a car dealer licensed in Minnesota and must state the amount the dealer would pay for the vehicle. Reimburse the client for the cost of any statement the county agency requires.

For the car with the highest equity value, count only the equity value over $1,500 in the unit's net counted assets.

Include the full equity value of all other vehicles in the unit's net counted assets.


GRH:
Follow MSA for aged, blind, or disabled clients. Follow GA for all other adults.