Nobody wants to spend hours waiting in a seemingly endless line for a task that will take five minutes. At MVD Express, strive to provide you with consistently short wait times so that you can get in and out quickly without wasting most of your day. If you have recently purchased a new car from a dealer or a used car from a private seller, our friendly team can help you transfer the title and get you back on the road. Learn more by exploring our website, and stop by an MVD Express near you today!
New Car Title Transfers
Buying a new car is a very exciting experience, especially if you’ve only had used cars up to this point. However, before you can begin to enjoy all of the luxuries your new car has to offer, it’s important to transfer the title within the allotted 30 days, otherwise, you may face unwanted late fees.
Most people who buy a new car will finance their vehicle and pay it off over a selected number of months. If that is the case, then you will need to include information about the lienholder when you visit MVD Express to transfer the title of your vehicle. The lienholder’s name will be on the title of your vehicle throughout the duration of your financing terms. Once you have paid off the loan, the lienholder may be released from your title.
Used Car Title Transfers
If you purchase a used vehicle within the state of New Mexico, you will have 30 days to complete the title and registration process for your vehicle. However, if you purchase a vehicle in another state and then drive it to New Mexico, you will have 90 days to complete the process.
Titling a used vehicle requires the same documentation as it does for titling a new vehicle with a few exceptions:
Gift Transfers – If you received your vehicle as a gift, then you will need the original affidavit of the transaction containing notarized signatures from both parties.
Dealership Transfers – When you buy a used vehicle from a dealership, you will have to pay an excise tax based on the price you paid for the vehicle. In addition to the excise tax, you will have to include information about the lienholder only if you are financing your vehicle.
Private Party Transfers – Similar to buying a vehicle from the dealership, you will also have to pay an excise tax if you buy your vehicle from a private seller. However, the excise tax for a used vehicle purchased from a private seller is determined by the National Automobile Dealership Association’s (NADA) listing price. If you pay less than the price they have listed online, then you will pay excise tax off of the listed price rather than the price you paid.
Visit MVD Express to Get Started!
Titling your vehicle can feel like a confusing process, but at MVD Express, we are here to help! If you have questions about what documents you need or how the process works, then don’t hesitate to contact MVD Express. If you’re ready to get started, check out our live feed of wait times, or schedule an appointment.
We look forward to helping you!