New Mexico Vehicle Bill of Sale Form

Registering a Vehicle in New Mexico

Those who want to register their newly acquired vehicle have to submit the relevant package of documents to a local MVD office:

• A certificate of title (the assignment of title section should be completed by the previous owner of the vehicle). The original form should be submitted and no copies are accepted.
• An Odometer Statement Disclosure (form 10187) (the document should be signed by both the buyer and the seller to certify the current mileage of the vehicle)
• A completed Vehicle Title and Registration application (MVD form 10002)
• Active proof of insurance (a copy of the insurance card)
• Proof of identity
• Receipts for the paid taxes and fees due for the vehicle’s registration

Fees for the registration of used motor vehicles in New Mexico are set depending on the vehicle type, starting from $27 and ending with $62 (for one year) or $54-124 for two years of registration.

The seller of the vehicle has to complete a Notice of Vehicle Sold form (MVD-10048) pursuant to Section 66-3-101(A) of NMSA 1978. This form should be sent by mail to the Motor Vehicle Division of Santa Fe or online. The document notifies the relevant state agencies about the fact that the vehicle previously owned by the seller has been transferred to another person and is no longer in this resident’s possession. The Notice should include the VIN number of the sold vehicle, its make, model, model year, license plate number, and the date of the sale. The vehicle’s odometer mileage at the moment of transfer is also recorded in the notice. Inclusion of wrong details into the notice is regarded as perjury per the Motor Vehicle Code and is legally prosecuted as a fourth-degree felony.

How to write New Mexico Vehicle Bill of Sale

The directions below are based on our custom-made bill of sale form. We strongly advise using the local official version if possible.

Step 1: Specify the bill of sale creation date.

Step 2: Enter the specifics of both sides (purchaser and seller):

• Full name
• Address: Street, City, State, Area code
• Contact details: Phone number, Email address
  

Step 3: Fill out the information regarding the vehicle you’re trying to sell:

• Make
• Car’s model
• Vehicle’s body style
• Year
• Distance traveled (odometer reading)
• Vehicle’s color
• Identification Number (VIN)
  

Step 4: Now, you will need to indicate the way in which you’ll get money for the deal.

Type in the purchase date and write the full amount that has to be paid for the vehicle. Next, decide on one selling method:

1. Providing the entire amount as a one-time transaction. This is pretty easy: within the same day, the buyer gets the motor vehicle delivered to them and transfers the full amount of money.
2. Trade-in. This choice allows the buyer to trade their vehicle (usually with a supplement) for the seller’s motor vehicle. You will also have to provide the description of the purchaser’s automobile.
3. A number of payments. With this method, you must enter the dates when the purchaser must deliver the initial and the final payments, as well as their amounts.

Next, pick one payment method:

• Cash
• Check
• Cashier’s check
• Money order

Finally, specify whether the purchase amount includes all applicable taxes.

Step 5: Read through the miscellaneous provisions.

The “as-is” provision indicates that the seller gives no warranties and isn’t liable for maintenance after the transfer.

Step 6: Now, the bill of sale must be signed.

For most states, the signature of the buyer isn’t required. Nonetheless, it’s advised to get the bill of sale signed by all sides. You could also have one or a number of witnesses verify the deal.

Step 7: Use the assistance of a notary public

Notarization is typically not mandatory, but it can be a decent approach to create an additional level of legal protection to your transaction.

In the majority of states, a bill of sale form may be required in the course of title change, so the purchaser should keep the original. As a seller, you may either create a copy and store it or have a pair of identical documents signed and completed by both parties.