MVD Title & Registration Calculator
If you are thinking about purchasing a vehicle or have already purchased a vehicle, it is important to know that the State of New Mexico imposes a 4% Motor Vehicle Excise Tax (MVET) on every vehicle sold, that is required under the Motor Vehicle Code, to be registered in this state. However, since boats are not vehicles, they are not subject to the MVET, but are subject to a separate 5% boat excise tax. The State of New Mexico MVD presumes that every time a vehicle is titled, a sale has occurred and therefore the MVET is due and must be collected every time a vehicle is titled.
In & Out MVD is committed to making every effort to offer you the best MVD Customer Experience and this includes access to our MVD Title & Registration Calculator. This calculator allows you to calculate an estimate of the MVD title & registration fees of your vehicle purchase based on the information you enter. Please remember that not all titling & registration fees are the same. There is no set or fixed title and registration fee for every vehicle purchase. MVD fees may vary from one person’s purchase to another significantly depending on the date of purchase, whom it was purchased from, the size and/or type of vehicle, amongst other important factors that may make the total of your MVD fees differ from others. To start calculating your estimate using our MVD Title & Registration Calculator, please click on the following icon:
FREQUENTLY ASKED QUESTIONS REGARDING MVET
What is the Motor Vehicle Excise Tax (MVET) percentage for a vehicle purchase?
The MVET percentage in New Mexico is 4% of the price paid for a new or used vehicle less any trade-in credit. However, for non-dealer sales, the N.A.D.A. value is used if the declared purchase price of the vehicle is lower than 80% of the N.A.D.A. average trade-in or wholesale value.
How does a trade-in affect the MVET?
A trade-in reduces the MVET on a vehicle since you only have to pay taxes on the difference after your trade-in credit. For example, if you purchase a vehicle for $40,000, but you trade in a vehicle and get $10,000 credit for it, then you will only be charged 4% of $30,000.
Do some Counties or Cities in New Mexico have a different MVET percentage?
No. The MVET percentage is the same throughout the State of New Mexico regardless of the County or City where the vehicle was purchased. Other types of taxes may differ according to location, such as New Mexico Gross Receipts Tax (GRT) which is based on the location where the products or services are delivered.
Do I have to pay MVET on a vehicle if it was given to me as a gift?
No, a vehicle that is gifted is not considered a sale, therefore, no MVET is due. However, the applicant must submit a notarized Affidavit of Gift of Motor Vehicle or Boat (Form MVD-10018) where both the “Donor” and “Recipient” affirm under oath and under penalty of perjury that the vehicle was in fact a gift.
How much are the registration fees in New Mexico?
The registration fees vary depending on the type of vehicle, trailer, vessel, or unit being registered. Registration fees for passenger vehicles are based on the weight and model year of the vehicle. Registration fees range from $27.00 – $62.00 for a one (1) year registration or $54.00 – $124.00 for a two (2) year registration.
Registration fees for trucks with a declared gross vehicle weight (DGVW) of 26,000 pounds or less are also based on the weight and model year of the vehicle. Registration fees range from $38.00 – $207.00 for a one (1) year registration or $76.00 – $414.00 for a two (2) year registration.
What are the penalty fees for a late Title Transfer?
A penalty of 50% of the MVET is imposed on any person who lives in New Mexico and either;
a) accepts transfer of a vehicle in New Mexico but fails to apply for a certificate of title within 90 days,
or
b) accepts transfer outside the state and fails to apply for a certificate of title within 90 days of bringing the vehicle into New Mexico.
Note: The 50% add-on penalty has the effect of increasing the tax rate to 6% (4% x 1.5 = 6%)
What if I purchased a vehicle in another state and I already paid taxes there?
If a vehicle is acquired out-of-state, and another state’s gross receipts, sales, compensating, or similar tax was paid, the amount of the tax paid may be credited against the MVET due on the same vehicle.
Are there any exemptions from the MVET?
Yes. The following are exempt from payment of the MVET:
- A person who acquires a vehicle out of state, and for personal use, at least 30 days before moving to New Mexico.
- A person applying for New Mexico title on a vehicle registered in another state, if the person has previously registered and titled the vehicle in New Mexico and has continued to own the vehicle.
- The State of New Mexico and any political subdivision of the state.
- A person who has a disability at the time the person purchases a vehicle and can prove that modifications have been made to the vehicle that;
- are due to the person’s disability; and
- are necessary to enable the person to drive or be transported in the vehicle.
- A New Mexico resident who served in the armed forces of the United States and who suffered, while serving or from a service-connected cause;
- the loss or complete and total loss of use of one or both legs at or above the ankle; or
- one or both arms at or above the wrist.
- A person who acquires a vehicle for subsequent lease if;
- The vehicle is not used other than for lease or sale in the ordinary course of business;
- The lease is for more than six months;
- The receipts from the subsequent lease are subject to the gross receipts tax; and
- The vehicle does not have a GVW of over 26,000 pounds.
When is the N.A.D.A. value used to calculate MVET?
Every time a used vehicle is being titled, MVD will ascertain the N.A.D.A. average trade-in/wholesale value for the vehicle and calculate 80% of said value. If the calculated value is higher than the sale price stated in documents presented by the customer, then that calculated N.A.D.A. value must be used to calculate the MVET.
However, the following limited exceptions apply:
- If the sale is by a licensed dealer, a dealer invoice must be presented and the MVET will be calculated off the invoice price.
- If no N.A.D.A. average trade-in/wholesale value is available, (as is the case, for example, for passenger vehicles older than 1990), MVD will accept the stated price from the Title or Bill of Sale (Form MVD-10009).
- If the vehicle’s title has a “Salvage” brand, MVD will accept the stated price from the Title or Bill of Sale (Form MVD-10009).
- If N.A.D.A. provides a “rough trade-in” value and a “clean trade-in” value, but no “average trade-in” value, (as is the case for motorcycles), MVD will use a value that is 80% of the lower, rough trade-in value.
IMPORTANT REMINDERS
- MVET policies and rates are subject to change, please CONTACT US with any questions.
- The MVD Title & Registration Calculator provides an estimate only.
- Other fees may apply for additional services such as specialty license plates, notary services, etc.
- In & Out MVD is an MVD Partner Office and charges a convenience fee for services provided.
