I want to user my backpay to buy a used vehicle, but I can't sell mine until I have something else to drive. How can I get benefits for my grandchild? Copyright Disability-Benefits-Help.org 2020. currently receive Social Security benefits? Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. Another way to prevent getting this page in the future is to use Privacy Pass. Nathalie (not verified). I understand that while on SSI, I am only allowed to have a maximum of $2000 in the bank before the SSA starts giving me the 3rd degree. You would need a large down payment to get a low lease rate..but if you save more than $2000 toward the car, you get cut off from SSI... you also need to have at least $200 more per month for insurance/gas....misc repairs not covered under warranty...and if you get a ticket or have an accident...that could add a lot to your monthly cost...and you are stuck in a lease. So, go ahead and fill out our simple and secure online application to get started today. Leasing a car may not be on a senior citizen’s radar screen, but it may be a better option than buying a new car for some. Of course, with an average monthly SSDI benefit of only $1,200 per month, affording just one reasonable vehicle will prove challenging. https://www.disability-benefits-help.org/content/social-security-disabi…, Thank you anyway i just help with my daughter because with the Grace of the Lord God hope it will come soon. Another thing to keep in mind is that, because BHPH dealers don’t run credit checks, many of them do not report loans or payment activity. Is it possible to buy a car with just SSi income. The experts at Green Light Auto Credit have considerable experience helping people just like you. We'd like to buy a newer car, SUV, but don't want to jeopardize my SSID. Leasing a car on SSI is also a possibility, because you have no ownership of the car, so it isn’t counted toward your $2,000 or $3,000 resource limit. Lenders and dealers prefer shoppers who are gainfully employed and have money to spare after funding their food, clothing, and shelter needs each month. And has a baby that has cystic fibrosis, In reply to Would I still reserve SSI and by Find unique car buying tips for each below. Financing a Car with No Credit or Bad Credit. If at the beginning of the month the value of your resources is greater than the allowable limit for SSI, you won’t receive SSI for that month. It is pretty well documented that most car finance companies are not usually willing to provide financial assistance to individuals who have all or a majority of their income comes from social security or disability. Therefore, a strategy to get you behind the wheel could help you then drive out of the showroom. If you are receiving SSDI, that will not be affected. Borrowing money is not a viable alternative in most cases. Even if you’ve been turned down before, we can match you with a dealership in your area that can work with your unique situation. Dave (not verified), Hi Dave, In reply to I am on SSI I looking to buy by I have copied in a link from the SSA that describes their definition of a gift and how it will affect benefits. By continuing to use this site you consent to the use of cookies on your device as described in our cookie policy unless you have disabled them. The SSA generally does not consider your primary vehicle to be an asset assuming that it is practical for your needs. Gifts from the other abled people in your life are perhaps the best way for SSI recipients to get a car or van for themselves to drive. - Answered by a verified Business Lawyer. Luckily there are still some courses of action that people with sub prime credit scores and SSI can utilize. Can you lease a car if you are receving SSI? If you’re an SSI beneficiary, your household is allowed to own one car, so long as it’s used as a means of transportation for you and others in your house. Leasing or owning a car should not affect SSDI benefits. Transportation is one of the basic needs of all persons, especially those with disabilities. I receive Supplemental Security Income (SSI) benefits. Follow the tactics above to get a car of your own, but if you have SSI you automatically have Medicaid too. If You Have Arthritis, Can You Qualify for SSDI Benefits? Can a person who attends a rehab clinic qualify for Social Security Disability Insurance? The rules place no limit on resources because these recipients paid into the system via FICA payroll taxes while working. Leasing Leasing an automobile can appear to be a more appealing option for SSDI recipients – at least at the outset. I have a question. A. https://www.ssa.gov/ssi/spotlights/spot-resources.htm. However, SSI rules simultaneously erect formidable barriers to buying the car in the first place. My brother is currently on SSI and I want to gift him a car so that he can use to get around to his doctors appointments. Also, most BHPH payments are made either weekly or biweekly, and you may have to make them at the dealership. Your SSI may be reduced or stopped if married depending on your spouse's income. If you borrow funds, any funds not spent in that month will be counted toward your SSI resource limit, which is $2,000 for a single person and $3,000 for a couple. So yes it is difficult to get approved for special financing with a different income, but it is not impossible when using the proper tactics. You are able to purchase a car with your SSI funds. This is possible because at least part of your income is garnishable. If you enter into a loan agreement, the cash value of the loan or the item received isn’t considered income; it won’t reduce your SSI benefit on its own. However, there are ways to improve your chances of approval with sub prime credit. So, if they need to apply for credit in the near future, their approval chances might be affected. Kasey and Green Light Auto Credit did a fantastic job in helping us a great car! • You may want to contact the SSA regarding this, they can explain how you would be able to do this while preserving your eligibility for benefits. Its really hard. If you're on SSI you're allowed to own one car regardless of value as long as you or a member of your household use it for transportation. Growing Family Benefits does not provide financial, legal, or medical advice. This is an Attorney Advertisement – Not an Attorney Referral Service Just make sure that the purchase is well documented. and am in need of a car. Fortunately, several exemptions open the door just a crack for some consumers to purchase a reliable vehicle. I need to ask friends for rides and I feel like a bother sometimes, but I pay them for gas anyways to say thanks. To qualify for Social Security disability, you must expect to be disabled for at least 12 months. Why wait? If you do not plan to stop working, this site cannot assist you because you will not qualify for the program.