PRIVATE SELLER MOTOR VEHICLE TITLES IN NEW MEXICO​

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If a vehicle is purchased from a private seller, the excise tax during titling will be based on the purchase price compared to the National Automobile Dealership Association’s (NADA) listing price. The person titling the vehicle will be charged 4% tax on the NADA listing, even if the vehicle was purchased below the NADA’s price.​

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DEALERSHIP MOTOR VEHICLE TITLES IN NEW MEXICO

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If a vehicle is purchased from a dealership, the person titling the vehicle will be charged a 4% excise tax based on the price that was paid for the vehicle. The price paid includes any charges, including dealer prep fees, accessories, warranties, transportation, delivery costs, etc. Should the vehicle be financed, the title will need to be requested from the lien holder to complete the title process (we will help you do all of this).​​

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DOCUMENTS NEEDED TO TITLE YOUR VEHICLE(S) IN NEW MEXICO

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• One (1) valid Driver’s License or ID for EACH person that will be on the title

• Two (2) Proofs of New Mexico Residency

• One (1) Proof of Insurance – In New Mexico, drivers must operate their motor vehicles with a minimum of liability auto insurance. Minimum auto liability insurance amounts required in New Mexico are $25,000 for bodily injury to or death of one person, $50,000 for bodily injury to or death of two or more persons, and $10,000 for property damage in any one accident. Bring one (1) of the following:

  • Current auto insurance card

  • Copy of your current auto insurance policy

  • A letter from your auto insurance company (on company letterhead) that verifies your auto insurance coverage.

• One (1) Vehicle Title – Bring untouched, along with a completed Bill of Sale

• One (1) Bill of Sale– Completely filled out by purchaser and seller​

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DOCUMENTS NEEDED TO TITLE VEHICLES THAT DO NOT OPERATE​

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This is usually a vehicle that is purchased for reconstruction or rebuilding, mechanically or otherwise, and which the buyer does not intend to operate for an extended period of time. The buyer must pay the title fee and the excise tax on the vehicle, but no plate will be issued. Once the vehicle is operable, you can come back to Village MVD to register the vehicle.

• One (1) valid Driver’s License or ID for EACH person that will be on the title

• Two (2) Proofs of New Mexico Residency

• One (1) Vehicle Title – Bring untouched, along with a completed Bill of Sale

• One (1) Bill of Sale– Completely filled out by purchaser and seller

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DOCUMENTS NEEDED TO TITLE VEHICLES THAT ARE NOT INSURED

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If you have purchased a vehicle for which you cannot get insurance, you can get just a Certificate of Title on the vehicle. You must pay the title fee and the excise tax on the vehicle, but no license plate will be issued. Once you do get insurance on the vehicle, you can register the vehicle.

• One (1) valid Driver’s License or ID for EACH person that will be on the title

• Two (2) Proofs of New Mexico Residency

• One (1) Vehicle Title – Bring untouched, along with a completed Bill of Sale

• One (1) Bill of Sale– Completely filled out by purchaser and seller

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AVOID RECEIVING A TAX PENALTY FROM THE STATE OF NEW MEXICO

FOR LATE TITLING!

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A penalty of 50% of the Motor Vehicle Excise Tax is imposed on any person who lives in New Mexico and either:

• Accepts transfer of a vehicle in New Mexico but fails to apply for a certificate of title within 90 days.

• Accepts transfer outside the state and fails to apply for a certificate of title within 90 days of bringing the vehicle into New Mexico.

The 50% add-on penalty has the effect of increasing the tax rate to 6% (4% x 1.5 = 6%). When this tax happens, 25% of the tax goes to the Local Governments Road Fund, the rest goes to the Highway Infrastructure Fund.