<p>Are vehicles considered assets when it comes to Fafsa, my son drives a BMW and I drive
a Lincoln Navigator, my ex-husband was in the car business at that time and got very
good deals back in 2005 and although they are not new (2003) I guess they are still considered luxury, the are paid off.</p>
<p>I doubt the government is aware of the kind of cars that you drive. Although I am not 100% sure. I have no idea how they would obtain this information anyway and cars are such a variable circumstance as they could have been a gift from someone else. I highly doubt they would consider this in financial aid.</p>
<p>Your cars are not considered “assets” in the sense that they are part of the assets reported for financial aid.</p>
<p>I do not believe the FAFSA asks any questions about the cars you own or their value. I think that on the CSS Profile - which is another FA form required by some schools - there are a few specialized questions at the very end that only some colleges want asked and I believe the car question comes up there - they ask they year, make, model and value. But again - only a few colleges want that piece of information - it is not typical.</p>