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TANF POLICY MANUAL

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6.8 Treatment of Vehicles 1. Ownership Once ownership of a vehicle(s) has been determined, a decision must be made as to the fair market and equity value of the vehicle. It also must be determined whether or not the vehicle is totally exempt.

2. Vehicle Exemption One licensed/registered automobile per licensed driver in the BG (passenger car or other motor vehicle) is excluded. 3. Determining Fair Market Value The fair market value of a vehicle(s) will be determined by the wholesale value (Trade-In) of the vehicle as listed on NADA.com or equivalent publication such as Kelley Blue Book (kbb.com). Using “add” or “deduct” factors cannot change the basic value of a vehicle.

Any A/R who claims the National Automobile Dealers Association (NADA) or equivalent publication value does not apply to his/her vehicle must be given the opportunity to obtain verification of the true value from a reliable source. The value may be less than that stated in the NADA or equivalent publication due to condition of the vehicle. 4. Leased Vehicles A leased vehicle is excluded as a resource as the owner retains the title. At the point in time that the A/R actually buys the vehicle, it becomes a resource for the BG. Any dollar value accrued in the lease is counted as a lump sum at the point in time it is refunded to the A/R. 5. Valid License and Registration In order to receive this exemption, both the license and registration must be issued in South Carolina. If an A/R moves to South Carolina from another state, they must apply for a SC driver’s license and must register their vehicle in SC. An A/R with a valid driver’s license issued by another state will be given 90 days to obtain a South Carolina driver’s license. The A/R will be given 45 days to transfer their out of state vehicle registration to South Carolina. NOTE: Military personnel from out-of-state are not required to obtain a current SC Driver's License or registration. 6. Additional Vehicle Exclusions The following vehicles are also excluded: A. Registered vehicles owned by or used to transport a disabled person B. Vehicles essential to self-employment C. Income producing vehicles D. Vehicles used as a home NOTE: A BG member may own more than one vehicle as long as the number of vehicles does not exceed the number of licensed drivers. A learner's permit is not considered a valid driver's license. 7. Non-Excluded Vehicles If the BG owns an unlicensed/unregistered vehicle, or any other non-exempt vehicle, the equity value of the additional vehicle(s) is applied to the resource limit.