A Comprehensive Guide to Transferring a Vehicle Title in New Mexico
Transferring a vehicle title in New Mexico is an important step when buying or selling a vehicle. It ensures that the legal ownership is properly transferred to the new owner. This comprehensive guide will walk you through the process of transferring a vehicle title in the state of New Mexico, including the necessary forms, costs, processing locations, and answers to the top 5 common questions about title transfers.
How to Transfer a Vehicle Title in New Mexico
Follow these simple steps to transfer a vehicle title in New Mexico:
- Step 1: Obtain the Required Forms:Before initiating the title transfer process, you’ll need to gather the necessary forms. The key form you’ll need is Form MVD10002 (Application for Vehicle Title and Registration). You can download this form from the official website of the New Mexico Motor Vehicle Division (MVD).
- Step 2: Complete the Application FormAccurately complete Form MVD10002 by providing all the required information about the buyer, seller, and vehicle details. Be sure to read the instructions carefully and supply all necessary and relevant information to avoid any errors or missing information.
- Step 3: Provide Additional Required Documents: In addition to the application form, you’ll need to provide the following documents:
- The vehicle’s original title certificate, properly assigned to the buyer
- A bill of sale that serves as proof of purchase, including information about the buyer, seller, and vehicle details
- Proof of insurance for the vehicle
Ensure that all the documents are complete, signed, and accurate to avoid any delays in the transfer process.
- Step 4: Pay the Title Transfer Fees:Transferring a vehicle title in New Mexico comes with certain fees, including:
- An application fee of $5
- A title fee of $15 for the application and issuance of a new title
- A registration fee, which varies depending on the weight and type of the vehicle
- A document fee of $2
For up-to-date fee information, refer to the New Mexico MVD Vehicle Registration Fees page.
- Step 5: Submit the Title Transfer Application:Once you have completed the necessary forms, gathered the required documents, and made the payment, you can submit your title transfer application. Title transfers in New Mexico are processed through the New Mexico MVD. To find the nearest office, refer to the New Mexico MVD Locations page.
Top 5 Common Questions about Title Transfers in New Mexico
Q1.Is notarization required for a vehicle title transfer in New Mexico?
No, notarization is not required for a vehicle title transfer in New Mexico.
Q2. What if I lost the vehicle title?
If you lose the vehicle title, you’ll need to apply for a replacement title. Complete the Form MVD-10901 (Application for Duplicate Certificate of Title), available on the New Mexico MVD Forms and Documents page.
Q3.Do I need a vehicle inspection for a title transfer in New Mexico?
A safety inspection is not required for a title transfer in New Mexico. However, if the vehicle is from out of state or has been modified, an inspection may be necessary.
Q4. Can I transfer a vehicle title online in New Mexico?
Yes, New Mexico offers an online platform called MVD Express, where you can initiate some title transfer applications and other Motor Vehicle services. Visit the MVD Express Online Services page to see the available online services.
Q5. How long does it take to receive the new title?
The processing time for a new title in New Mexico can vary. Generally, it takes around 4 to 6 weeks to receive the new title by mail after submitting all the necessary forms and fees.