Using car as an asset: How to determine/prove value?

[JenniferJarin 0]

We are completing the affidavit of support to adjust status. It says on there that you can use a car as an asset, provided you have another car you are not including as an asset.

We are actually in the process of buying a new car. How do we determine the true value? Do we print out a page from Edmunds.com or Kelly Blue book with the true market value, and send that, along with a copy of the title and/or registration and the purchase receipt?

Do we then need to show current registration & title for the car we are NOT including?

Or do we just show the purchase price of the vehicle, on our contract?

If anyone has reported a car as an asset, I would appreciate knowing how you determined its current worth and what proof you sent in to USCIS.

Thanks in advance.

[TayRivers 4]

We are completing the affidavit of support to adjust status. It says on there that you can use a car as an asset, provided you have another car you are not including as an asset.

We are actually in the process of buying a new car. How do we determine the true value? Do we print out a page from Edmunds.com or Kelly Blue book with the true market value, and send that, along with a copy of the title and/or registration and the purchase receipt?

Do we then need to show current registration & title for the car we are NOT including?

Or do we just show the purchase price of the vehicle, on our contract?

If anyone has reported a car as an asset, I would appreciate knowing how you determined its current worth and what proof you sent in to USCIS.

Thanks in advance.

A friend tried to use a car as assets and it was not accepted, USCIS said that if the car is financed and has a lein on it then you can not use it as an asset because you could not sell it for the value to release the asset to support the immigrant as the finance company would need to be re-paid in full so only money left would be the residule balance.

So unless you are paying cash for your new car it would be unlikely to be included as an asset.

[JenniferJarin 0]

That makes sense. Thanks for the input.

We are completing the affidavit of support to adjust status. It says on there that you can use a car as an asset, provided you have another car you are not including as an asset.

We are actually in the process of buying a new car. How do we determine the true value? Do we print out a page from Edmunds.com or Kelly Blue book with the true market value, and send that, along with a copy of the title and/or registration and the purchase receipt?

Do we then need to show current registration & title for the car we are NOT including?

Or do we just show the purchase price of the vehicle, on our contract?

If anyone has reported a car as an asset, I would appreciate knowing how you determined its current worth and what proof you sent in to USCIS.

Thanks in advance.

A friend tried to use a car as assets and it was not accepted, USCIS said that if the car is financed and has a lein on it then you can not use it as an asset because you could not sell it for the value to release the asset to support the immigrant as the finance company would need to be re-paid in full so only money left would be the residule balance.

So unless you are paying cash for your new car it would be unlikely to be included as an asset.