Legal Question in Credit and Debt Law in California

You can keep a vehicle up a certain value, some where around $3800.

Assuming you've been California residents for 2+ years, you'd choose one of the two available exemption schemes. Under the first scheme (which is generally preferred if you have high home equity), you can protect $2725 in motor vehicle equity. Under the second scheme, you can exempt $3525 in motor-vehicle equity (for a single vehicle), however you are entitled to an additional $23,250 from unused-homestead + wildcard exemptions that can be applied to protect any property, including motor vehicles. Separate, additional exemptions exist for protecting household goods, retirement accounts and other assets. For more information on exemptions, please consult my Website exemptions page. Just Google my name + exemptions to get there in a jiffy.

Keep in mind, these values are subject to change and are current as of the date of this posting.

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