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Chapter: 1600 Assets Program: TCA 33 1620.0589 Other Recreational Vehicles (TCA) House trailers and houseboats that are not the homestead and are not an excluded vehicle are included.

The resale value for house trailers and houseboats must be obtained from a reputable trailer or boat business. The resale value for other vehicles (such as campers, travel trailers, motor homes, pleasure boats, motorcycles, and aircraft) must be obtained from a reputable dealer for the particular type of vehicle. For TCA purposes, this resale value will be substituted for the trade-in value in the asset value determination. 1620.0590 Increases/Decreases to Value (TCA) The equity is calculated by taking the NADA value of a vehicle and subtracting the amount owed.

The market value of a car, truck or van is determined with the listing of average trade-in value given in the most recent edition of either the Southeastern Edition NADA Official Used Car Guide or the NADA Older Car Guide.

No adjustments to the vehicle’s value are made by the eligibility specialist for high mileage, low mileage, and options listed such as air conditioning, radio, and automatic transmission.

If an individual owns a vehicle that may be worth considerably more than the NADA value because of its model and/or year, such as a 1965 Ford Mustang, the NADA value for the oldest comparable model is still used.

A valuation from a reputable automobile dealer, rather than the NADA value may be used when:

1. the “average trade-in” value affects the applicant/recipient’s eligibility, 2. the vehicle was in an accident, sustained major mechanical and/or body damage which has not been repaired, or 3. the vehicle is inoperable due to mechanical conditions that have not been repaired.

A reputable automobile dealer valuation may also be used when the vehicle is in excessively poor condition bodily and mechanically so that compared to other vehicles of the same make, model, year, and equipment its value is substantially affected. A vehicle does not qualify on this condition based solely on excess mileage and/or minor body damage such as rust, as these conditions are considered in the NADA book values given. The case record must contain an explanation of the condition of the vehicle that led the individual or eligibility specialist to believe the book value to be incorrect.

The individual obtaining the dealer’s evaluation must request the dealer to provide the current market value of the car or the resale value. The trade-in value or wholesale value is unacceptable. The Department cannot assume liability for any costs arising from obtaining a dealer valuation.

Once a dealer values an older unlisted car placing the value at less than $1,500, another valuation is unnecessary for the same car at future redeterminations or reapplications. Notate the CF-ES Form 2610 or the CLRC screen when the valuation is placed in the case record.

When a dealer’s valuation has been used due to the condition of the vehicle, the individual must report to the eligibility specialist any repairs affecting the value of the vehicle. However, the eligibility specialist must explore with the individual the condition of the vehicle at each complete redetermination to ensure that the conditions that resulted in its devaluation continue to exist. When such conditions have been remedied, the value of the vehicle must be redetermined through the NADA book or an additional dealer’s valuation.