I would assume that if you did not put the money toward another residence, say as a down payment, or toward the purchase of a new primary vehicle, it might wind up sitting in a bank account as countable assets. The ineligibility period starts with the month following the transfer, and the maximum penalty period is 36 months. You are not required to keep a broken down car. Taking a car for a test drive is a good idea when you’re looking to buy. If you've recently sold or given away assets, Social Security will investigate these "resource transfers" when you apply for SSI. Thanks in advance, By Jobseekr2011 in forum Employment and Labor, By MelissaW01 in forum Employment and Labor, By kaylamariiie in forum Immigration Issues, Will Selling a Car Put SSI Benefits at Risk, http://www.socialsecurity.gov/ssi/sp...-resources.htm, At Risk of Losing Unemployment Insurance Benefits, Selling My Company vs. Some states pay a supplement. Disability examiners make decisions on disability applications, The disability examiner will use the work history to identify each job in the dictionary of occupational titles, Receiving a Social Security Disability Award Letter. Yahoo News explains. The month she sells the car and receives the $4500 it is income to her and it will make her immediately ineligible for SSI. I am a small seller of vintage. You also have to demonstrate that you are diligently pursuing the sale of the property. bank accounts, stocks, U.S. savings bonds; anything else you own which could be changed to cash and used for food or shelter; and. I had to downgrade my store. Any other people in attendance can stay behind and wait for you and the shopper to return. If you, your spouse, or a co–owner give away a resource or sell it for less than it is worth, you may be ineligible for SSI benefits for up to 36 months. Why do people want to cure deafness when deafness already has a cure aka cochlear implants. Sometimes this will separate the tire-kickers—people more interested in looking than buying—from serious buyers. To qualify for SSI, you can have only $2,000 in assets, or $3,000 for a couple. I hate having to choose a Best Answer, as they all compliment each other. If she gives the car for you to sell, you sell it for $4500 and go with her to buy her a new car for $4500, then it doesn't affect her at all. Examples of situations where Social Security will accept that a transfer wasn't made for the purpose of qualifying for SSI are transfers ordered by a court or transfers made before something unexpected happened that causes you to become disabled suddenly. Even if you did give away resources or transfer them for less than market value, you can still continue to receive SSI if you can show Social Security that not getting SSI would cause you an “undue hardship.” To meet Social Security’s definition of undue hardship, you have to show that you would not be able to pay for food or shelter without SSI. Selling Customer Info vs. Privacy, FMLA and Medical Benefits for a High Risk Pregnancy, If this is your first visit please consider. This will give you some collateral before the test drive. The value of your resources is one of the factors that determines whether you are eligible for SSI benefits. Or do they just cut you off all together and make you appeal, or ask for reconsideration or re-apply after 3 months? In other words, if Social Security is trying to decide whether you are eligible for SSI at the time you apply, it will look back at all the resource transfers you made in the 36 months before the date that you filed. You should accompany the prospective buyer on the test drive. She will need to keep receipts to show that she's done that. If something doesn’t feel right during these conversations, listen to your instincts, and move on to the next shopper on your list. This website is produced and published at U.S. taxpayer expense. If this is your only vehicle, and it is necessary you should be alright. I have one car. If you are still concerned, I would recommend contacting your local SSA office. Can I sell my car while I'm paying off a loan? Even if you feel good about an interested buyer, there’s no need for them to know where you live or work. SSI Benefits - who is Eligible and How do I apply for them? Here’s how it works. What Can I Do to Improve My Chances of Winning Disability Benefits? Are there any support groups online for this? Yes. Common resources that people have are cars, houses, and money in bank accounts. Would it also affect my SSI for the month of the sale/trade-in? If a child under age 18 lives with one parent, $2,000 of the parent's total countable resources does not count. CarGurus recommends that everyone test drive cars they’re considering buying (when possible), so expect that some potential buyers will want to take your car for a test drive. The market value of anything is what someone else is willing to pay you. 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