Motor Vehicle Titles
Whether you recently purchased a vehicle from a dealership or from a private seller, the process of titling your vehicle has never been easier thanks to MVD Express. Our goal is to make your experience with us as quick and comfortable as possible, which is why we offer consistently short wait times and all of the services you need. If you have questions about the documents you will need prior to visiting one of our facilities, don’t hesitate to give us a call!
Dealership Vehicle Titles
There are two things that you need to keep in mind if you are titling a vehicle that you recently purchased from a dealer. The first thing you will have to do is obtain the title of the vehicle from the lien holder. However, this is only applicable if you are financing your vehicle. Once you have completely paid off your vehicle, you will be able to remove the lien holder from the title.
Additionally, you will have to pay an excise tax at the time of titling your vehicle. An excise tax is charged as opposed to a property tax on your new vehicle. The excise tax is a certain percentage of what you paid for your vehicle at the dealership — in New Mexico, the excise tax is four percent.
Private Seller Vehicle Titles
If you purchased your vehicle from a private seller as opposed to a dealer, then you will still need to pay an excise tax on your vehicle. However, this tax is calculated based on either the price of the sale or the National Automobile Dealership Association’s (N.A.D.A.) listing price — whichever price is greater will determine the excise tax.
Discover the Expertise of Service at MVD Express!
Titling your vehicle is simple and easy thanks to the experts at MVD Express. If you have any questions about our services or you would like to learn more about how excise tax will affect your titling process, contact MVD Express or stop by one of our many locations throughout New Mexico. Life is busy, but we make it easy, so stop by today!