New Mexico charges motor vehicle excise tax (MVEX) of 4% statewide on vehicles, with no local add-on. A trade-in does reduce the taxable price, which is real money on the deal.
Type your own numbers and see the same car priced as cash and as a loan, with the taxes and state fees for New Mexico. Nothing you type leaves this page.
To see a lease, pick a vehicle. A lease is priced on one car: what it is expected to be worth at the end (its residual) and the leasing company's money factor change by model and by month.
An estimate on the numbers you type, not an offer of credit or a quote from any dealership. Starting loan rates are Rateous's rates for each credit range and term; they are not an offer from any lender. The documentary fee starts at an example figure, the state's legal cap where it has one or $599 where it does not, not any dealership's fee; each dealership sets its own. Taxes and state fees are estimates for New Mexico; the dealership's paperwork and your motor vehicle agency have the final numbers. Nothing you type is sent, saved, or used to check your credit.
MVEX replaces gross receipts tax on vehicle sales; no county or municipal tax applies. The rate rose from 3% to 4% on July 1, 2019.
The tax base is the price paid including accessories and delivery charges, minus trade-in value and manufacturer rebates applied at sale (per MVD Chapter 6 summary); confirm rebate treatment with the Taxation and Revenue Department for the specific transaction.
For non-dealer sales the NADA value is used when the declared price is below 80% of the average trade-in value.
On a $35,000 new car with a $37,000 sticker, registered in Albuquerque, no trade-in: the same figures the calculator above uses. The dealership's documentary fee is its own and is not included.
| Fee | Amount |
|---|---|
| Tire recycling fee (annual, per vehicle (MVD collects)) | $1.50 |
| In all | $1.50 |
New Mexico taxes the vehicle's price when the leased car is titled. The leasing company pays it and it is carried in the lease, so it shows up in your payment rather than as a separate tax on each payment. The lessor pays 4% MVEX on the vehicle when it is titled; lease payments are subject to the leased vehicle gross receipts tax (5%) plus a $2/day surcharge on short-term rentals, not the ordinary gross receipts tax.
Pick your city for the exact combined rate where you register, plus what title and registration run there.
4%. New Mexico applies one rate statewide on vehicles, so it does not change from city to city.
The tax is 4% of the price paid less any trade-in credit (NMSA 7-14-4).
On a $35,000 new car with a $37,000 sticker, registered in Albuquerque: Tire recycling fee (annual, per vehicle (MVD collects)) $1.50, about $1.50 in all. Passenger vehicle registration is based on shipping weight and model year: $27 to $62 for one year ($54 to $124 for two years). The MVD fee schedule lists no separate title fee; titling is bundled with registration.
No. New Mexico sets no statutory cap. Each dealership sets its own documentary fee (not a government fee), and each car shows its dealership's fee.
New Mexico taxes the vehicle's price when the leased car is titled. The leasing company pays it and it is carried in the lease, so it shows up in your payment rather than as a separate tax on each payment. The lessor pays 4% MVEX on the vehicle when it is titled; lease payments are subject to the leased vehicle gross receipts tax (5%) plus a $2/day surcharge on short-term rentals, not the ordinary gross receipts tax.