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B. Equity value is excluded for one licensed vehicle per each adult household member and any other licensed vehicle a household member under age 18 uses for transportation to and from employment, training or education (including all regular courses of study at high school or college) preparatory to employment or looking for employment.

Household members include disqualified members or ineligible aliens whose resources are being considered available to the household.

The fair market value of each of these vehicles in excess of $4650 must be considered a resource to the household, regardless of any encumbrances (debt owed) on the vehicle or the household's investment in the vehicle.  The Specialist's evaluation of the fair market value in excess of $4650 should be made for each individual vehicle.  If the vehicle's value does not exceed $4650, it is exempt as a resource. This exemption remains in effect for vehicles used for employment purposes even during temporary periods of unemployment.

C. All other licensed vehicles, including recreational vehicles, not listed above must be evaluated for both fair market value in excess of $4650 and full equity value. Equity value is the fair market value less encumbrances (debt owed).  The greater of the either the fair market value in excess of $4650 or the equity value must be considered a resource to the household.

D. Unlicensed vehicles, including recreational vehicles, are tested for equity value only, unless they meet total exclusion as a home.

Example: The household has three vehicles.  Vehicle #1 has a fair market value of 10,000  Vehicle #2 has a fair market value of $7,000  Vehicle #3 has a fair market value of $2,000 All of the vehicles are paid in full. Also, the household has a physically disabled individual residing with them.  Vehicle #1 is totally excluded as the primary vehicle  Vehicle #2 is totally excluded for transporting a physically disabled household member  Vehicle #3 is excluded because the equity is excluded for adult household member, and the fair market value is less than $4650 Example: A son's car (not used for employment/education purposes) must be evaluated for fair market value in excess of $4650 & for equity value. Fair market value is $5000, and the equity value is $2000. Therefore, the equity value would be credited to the household as a resource because the equity value of $2000 is greater than the $350 ($5000-$4650) that the fair market value exceeds $4650. Example: Recreational Vehicles (snowmobiles, jet skis, boats, RV, etc.) If the recreational vehicle cannot be excluded, it will be evaluated in the same manner as any other vehicle.  Licensed: Consider the greater of the either the fair market value in excess of $4650 or the equity value  Unlicensed: Consider the equity value only