What you pay in tax when you buy a vehicle in New Mexico, from the statute and the revenue department.
Verified September 21, 2026 · statute and revenue department cross-checked
The statute and the actual bill do not match. The Motor Vehicle Division still hosts a 2017 copy of the statute reading three percent. The rate has been 4 percent since July 1, 2019.
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Buying the car is only half the cost. You still owe an annual registration fee.
Vehicles are exempt from gross receipts tax and pay only this state excise, so there is no local add-on. In a private sale, if your declared price is below 80 percent of NADA value the state uses NADA instead. Apply for the title within 90 days or a 50 percent penalty applies, which effectively makes the tax 6 percent.
New Mexico Taxation and Revenue, Motor Vehicle Excise Tax “The tax is 4% of the price paid for the vehicle less any trade-in credit. For non-dealer sales, however, 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.”
Last verified: September 21, 2026.
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Estimates only. Your dealer or the state issues the final bill, and exemptions can change what you owe. This page does not collect or store anything you enter.