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Actually, all states are pretty similar IIRC. There's a list of items that are exempt and the home is one of them as long as it meets the individual state's rules. If the recipient has a qualified dependent or spouse living in the home or shows intent to return to the home, it's exempt.
Once they cannot show the above, the value of the home may counted or used to repay Medicaid.
I was considering buying used to beat the depreciation, but qbrozen's advice makes sense. Anything that has depreciated enough to be a good deal will keep going south in a hurry.
Just to clarify, the car is being purchased in my mother's name. She no longer drives, but we will take her where she needs to go in it. The goal is to preserve as much of her savings as possible from medicare, although we feel an obligation to and intend to pay for her expenses as long as we can.
My deceased father would want his grandchildren to benefit a little from his fiscal discipline, so that is why we are buying the car. We may or may not keep it, depending on the situation. Mom unfortunately has an accelerating case of dementia and she will likely need assisted living care in the future.
More on topic, she has a '98 Honda Accord EX, black, gray leather, V-6, just 77,000 miles, new tires, timing belt and struts, showroom inside and out (a few knicks) that we will sell when she gets the new car. We're guessing it should be worth 4 to 5K maybe in Central Fla.?
The Sandman
2023 Hyundai Kona Limited AWD (wife) / 2015 Golf TSI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
Well I just bought a new Accord, so I'm biased. I test drove a Sport and an EXL and ended up with the latter; I didn't notice a big difference in terms of handling.
To stay on topic, I got surprisingly good numbers on my trade in. Very pleased about that...used car values are at a high right now. Which is another good reason to think new vs used at the moment.
23 Civic Type-R / 22 MDX Type-S / 21 Tesla Y LR / 03 Montero Ltd
Maybe you said this already, but why does she need a new car??
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
why does she need a new car?
msg 44024, sebring95
To partially shield my elderly mother's estate from future nursing home costs our lawyer suggested we buy a car that will hold resale value for several years. (In Florida, a home, one car and a small amount of cash are exempt from confiscation). It will be driven very little as mom no longer drives. It essentially will be stored.
Pittsburgh, PA 15219
2010 Honda Odyssey EX-L-RES
Silver
32,000 miles
Dealer asking 24300
2010 Honda Odyssey Touring
Black
32,000
Dealer asking
28200
Would rather have a black car but 4000 for nav and the runflats is a lot. Which is the better buy?
Also trading in:
2007 Honda Odyssey
EX
Graphite
91000
Average at best shape with a few dings.
Newish tires
Can I get 8000 on trade?
Have a 99 ls 400 mint w 84k miles... all records w major svc just done timing belt, idler pulley, new plugs 100k svc done etc - what's it worth? Not more than 10or so for sale w this mileage and Autotrader prices seem to realistically suggest between $10,900-11,900?
I could easily see more than a factor of two in value between the rust belt vs. the pacific NW, for instance...
Cheers -Mathias
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
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OP: Verify you can only keep one car. Medicaid typically allows two vehicles...one can be new and the other has to be over 7years old and not luxury/antique/custom. I would keep the current Accord and then buy a new model...whatever you decide that is.
In that case, hell, I'm with Shifty's idea. Get an APPRECIATING car! I don't know all the rules, but I'm sure something fits in there that isn't considered a luxury.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Believe it or not, the Touring adds nothing. Still in the $20k range.
So I'd be looking to spend more like $23k on either one, depending on the details, of course (paintwork, tires, brakes, etc).
$8k is a stretch for yours. That's what they are hitting at the block. So a dealer would probably be looking to give you $6500-7k.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Dealer would give about $5k for yours. $8k private party is all the money.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
So, I think the answer is, either train the kids or crate them.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Location: Portland, Oregon
Year/Make/Model: 1999 Toyota 4runner (Limited)
Body Style: 4 door
Engine: 3.4 liter, 6 cylinder, automatic
Driveline: 4WD
Mileage: 165,500
Color: Grey/Silver exterior, tan interior.
Major Options: Center Console, Power Antenna, Power Brakes, Rear Window Defroster, 16 Inch Alloy Wheels, 3.4L V6 DOHC 24V FI Engine, 4-Speed Automatic Transmission, 4-Wheel ABS, Driver and Passenger Front Airbags, Anti-Theft Alarm System, Leather Seating, Power Driver's Seat, Power Front Passenger Seat, Cruise Control, Power Steering, Tilt Steering Wheel, Air Conditioning, Automatic Climate Control, Intermittent Windshield Wipers, Power Windows, Rear Window Wiper, Power Door Locks, AM/FM/CD Audio System, Power Vertical Sliding Rear Window, Running Boards
Condition:
Interior: Professionally detailed. Leather on front bucket seats is showing wear. Overhead sunglasses holder is missing lid.
Exterior: Professionally detailed no dents or scratches to body. Front bumper has bumps and bruises from grazes with parking garage protective pylons.
Tires – 50%
Brakes: New
Maintenance: Breaks, Oil Change, Tire Rotation, New Radiator.
Other: Third owner, clean carfax.
At this point, its just one of those cars that's worth what someone is willing to pay. There is no good book on this, but based on the auction numbers, I'd probably try for $6k and take the first 5k that came along.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
2011 Volkswagen Tiguan SE FWD
Automatic
25k Miles
Candy White
Tan Leather Interior
Sunroof
Nav
Heated Seats
Fog Lights
1-Owner, No Accidents
5 Year/100k Mile Warranty
Location: Seattle
It looks like I have a buyer for my C30 at 22,500, which is pretty darn good given what I paid for it two years ago.
Thanks Q.
FWD zip 73013
65,000
Brand new Tires
Cloth Seats
Back up sensors
Brakes 70%
Maint up to date
interior Avg few light stains on carpet but not bad
Rear bumper got hit and run where paint is missing about 2 inches diameter not dented though
Small scuffs under front bumper clear title.
Silver ext tan interior
What would this vehicle be worth private party and trade in?
Thanks
Backup Camera
Auto(1 Touch) Roll down windows
8 Passenger seating
Silver Ext Gray Int.
Great shape.
Cloth Interior
Standard Equipment
Tilt/Cruise/Roof Rails
Auto sliding Doors
Thanks
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
If I was looking at an identical truck in Black but CPO and 4Motion, would it make a big difference? A local dealer has one asking 23,995 - I'm thinking 20k is more in line for that?
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We don't need it really in Seattle proper itself, but if you go to the Mountains, the 4WD is generally considered mandatory.
The Sandman
2023 Hyundai Kona Limited AWD (wife) / 2015 Golf TSI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
But if that's a 2012 CRV EXL AWD with 19k miles, its worth about $24k at auction. Even those rated as poor are hitting 22k.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
OTD- Out of the door (including taxes, doc fee, tag and title etc).I dont have the price breakout as I am telling the dealer this is the final price and he has agreed to it.. its a single owner and no accident history.Thoughts?
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Location: Phoenix, AZ
Year/Make/Model: 2007 Subaru Outback Limited 2.5i
Body Style: Wagon
Engine: 2.5i liter, 4 cyl, auto
Driveline: AWD
Mileage: 86,000
Color: Blue/Tan Leather Interior
Major Options: Leather, Dual-Moonroof, Dual Auto AC, Heated Seats, CD Changer, Auto Dimming Rear view, Alloy wheels, Custom all weather mats.
Condition: Excellent
Never been in an accident
Tires - New, purchased in January
Brakes - New, replaced in June
Maintenance - according to manufactures schedule
I have seen CPO Passat SE's similarly equipped and miled going for 19k-20k at the dealer, so I'd say if someone is offering you that on trade to take it.
Qbrozen can tell you more definitely, though, but what you're seeing seems to be on the money.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
I am seeing trade values from a low of 16k up to 18k. Is 18k realistic?
msg #44080 bu 6422130:
Sorry to be unclear. The 18k at the beginning of the post is the miles. I have not gotten any figures yet.
I think you need to lay off the Jack Daniel's before you post. (smile)
Well, as a recent arrival you better know that once in awhile we REALLY get dumped on and we get ICE too sometimes. This past winter was downright balmy.
We had 14 inches of snow one year in our back yard in Issaquah.
2WD SUV's are almost saleproof around here even though when we do get snow it's a three day a year deal.