Reply To: Equity in Automobile

Home Forums Member Forum Equity in Automobile Reply To: Equity in Automobile

Starla Smith

As follow-up to my question and based on your responses, since there is no loan on the vehicle the quick-sale value will be more than the $3,450 exclusion. This is her only vehicle and it is 10 years old. I would like to get the couple of thousand dollars of equity in the auto excluded for an OIC as she would have no way to get to work if she sells the auto. Does she need loan rejections in order to get this equity excluded, or are there other arguments I can use?