Real New Mexico deals, worked out
Each example runs through the same calculator above, line by line, so you can check every number yourself.
1Albuquerque: new car with a trade-in
A buyer pays $33,000 and trades in $9,000. The 4% excise tax is on $24,000.
| Vehicle price | $33,000.00 |
| Motor vehicle excise tax (4%) on $24,000.00 | $960.00 |
| Registration (1 year) | $62.00 |
| Out-the-door | $34,022.00 |
| Due after the $9,000 trade-in | $25,022.00 |
2Private sale
A buyer pays a private seller $12,000 for a car with a similar book value.
| Price paid | $12,000.00 |
| Motor vehicle excise tax (4%) on $12,000.00 | $480.00 |
| Registration (1 year) | $62.00 |
| Out-the-door | $12,542.00 |
The excise tax
MVD charges 4% of the price paid less any trade-in credit, and presumes a sale whenever a car is titled. On a private used-car sale, MVD may use a book value if the declared price is lower, so a too-good-to-be-true bill of sale won't lower the tax. A New Mexico resident who doesn't apply for a title within 90 days owes a penalty of 50% of the excise tax.
New Mexico car tax at common prices
What a new gas car bought from a dealer comes to at four prices. The trade-in column shows how much a $10,000 trade-in changes the tax under New Mexico's rules.
| Price | Tax | Tax with $10,000 trade-in | Taxes + fees |
|---|---|---|---|
| $15,000 | $600.00 | $200.00 | $662.00 |
| $25,000 | $1,000.00 | $600.00 | $1,062.00 |
| $35,000 | $1,400.00 | $1,000.00 | $1,462.00 |
| $50,000 | $2,000.00 | $1,600.00 | $2,062.00 |
New Mexico taxes and fees at a glance
Officialfrom a state agency sourceEst.varies or not yet confirmed
| Item (albuquerque: new car with a trade-in) | Status | Amount |
|---|---|---|
| Motor vehicle excise tax (4%) | Official | $960.00 |
| Registration (1 year) (yearly) | Estimate | $62.00 |
| Total taxes and fees | $1,022.00 |
New Mexico car tax FAQ
Does New Mexico charge sales tax on cars?
No. It charges a 4% motor vehicle excise tax on the price minus any trade-in.
How much is car registration in New Mexico?
$27 to $62 for one year, or $54 to $124 for two, by weight and model year.
What happens if I title late in New Mexico?
A penalty of 50% of the excise tax applies after 90 days.
Sources
We build every number from these agency pages. If something has changed, tell us and we'll fix it.