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SNAP CERTIFICATION MANUAL – SECTION 4000 7B4800 Vehicles 47B4851 Determining Fair Market Value

Thunderbird is $1,000. The household owes nothing on the car. $1,000 will be added to the household’s other resources. Normally, the fair market value of a “junked” vehicle will be the price the household anticipates it could receive if the vehicle were sold for scrap. Antique car and truck bodies may sell for more if they are in a condition to be restored. The worker will accept the household’s statement of the value of a “junked” vehicle unless it is questionable. For vehicles that do not appear on the web sites, the vehicle’s current value may be substantiated by statements from dealers or newspaper ads. (See above.) It is the household’s responsibility to provide conclusive proof of the vehicle’s current fair market value. If documentation submitted by a household is inconclusive or questionable, the worker may request additional documentation. Or, the worker may contact collateral sources such as dealers to determine how the value was assigned to the vehicle. Before contacting the dealer, the worker may wish to consult publications similar to the “NADA Book” or may check newspaper ads to determine the value of similar vehicles. The worker must document: 1. Why the documentation provided is considered questionable or inconclusive - e.g. was the value stated by a dealer substantially less than the web site value? Was any reason given by the dealer for this difference in value? Is the reason plausible? 2. What the household was instructed to do to clear up the questionable documentation. The household must be issued a Request for Information (DCO-191) specifying what action the household must take. 3. How the worker finally arrived at the fair market value of the vehicle, which is the subject of the dispute. The worker must include all contacts made by the worker or information obtained by the worker as well as any information provided by the household. When a newspaper ad is used to establish the fair market value of a vehicle, either a dated copy of the ad or a dated original must be attached to the case record. The fair market value of boats, motors, campers, motorcycles, recreational vehicles, etc. not listed on the web sites will be determined through current newspaper advertising or a dealer’s statement. The worker may accept the household’s statement about the value of older model vehicles, “junked” vehicles and vehicles that are generally known to be inexpensive.