New Mexico Bill of Sale Form – DMV NM Information

Introduction to  New Mexico Bill of Sale

The  New Mexico Vehicle Bill of Sale is an authoritative report, in the territory of  New Mexico, to be utilized as evidence that a lawful deal and acquisition of a vehicle have been executed. This legal document stands as proof relating to the change in possession of the vehicle. It likewise gives details about both the dealer and the purchaser. Click here to download the bill of sale form for the  New Mexico NM DMV bill.

The vehicle bill of sale  New Mexico is used for auto bill of sale NM, vehicle, trailer, or vessel agreement. It is a printed version record of the offer of a car with significant information for the vehicle being sold.

Also, including the purchaser and vendor associated with the exchange. A bill of sale is essential to guarantee that you don’t accept any obligation for any criminal inclusion in which the vehicle may get involved.

How to register a vehicle in  New Mexico

Before being able to lawfully use a motor vehicle in the province of  New Mexico, you should enlist and title your vehicle with one of your nearby  New Mexico Department of Motor Vehicles (DMV) Offices. Naming and enrollment can be done in a single visit to ensure that you can drive the vehicle in  New Mexico from the same day.

First, you should provide information about the price of the vehicle to compute the 4.15% sales and use tax.

For this, you can provide a finished Vehicle Title with price value, A  New Mexico Vehicle Price Certification (SUT-1), or the bill of sale form k.

You should likewise decide the procedure for the change of title. If the vehicle is currently titled within the state then, you require an “Assignment of Title by Owner” and “Application for New Owner Certificate of Title and Registration” sections completed before visiting. Besides, you also need a filled Vehicle Registration Application (VSA-14). If the automobile is not currently titled in the state of  New Mexico, you need to provide a completed Application for Certificate of Title and Registration (VSA 17A).

The following documents are required for registering the used vehicle general bill of sale form:

  • A title signed over to you
  • A bill of sale
  • Photo ID
  • Proof of residency same as in your ID
  • Insurance Proof
  • Inspection Certificate
  • Registration fees


What are the requirements for DMV  New MexicoBill of Sale Form?

After selecting the format to present the sale amount, determine the appropriate way to the title and/or register. Visit your local  New Mexico DMV location with the following documents:

Completed car bill of sale, Vehicle bill of sale  New Mexico Price Certification, or Vehicle Title supplemented with the purchase price.

Completed Vehicle Registration Application (VSA-14) form or Application for Certificate of Title and Registration (VSA 17A) as per the status of the current title of the motor vehicle.

Proof of Address along with the identity proof issued by the state of  New Mexico or Federal issued.

Proof of automobile insurance or form of payment for the uninsured vehicle as motorist expense.

Certificate prooving vehicle Emissions Inspection.

A form with all fees and taxes for the payment for registration and change of title.

SAMPLE DMV BILL OF SALE FORM  New Mexico MVD EXAMPLE

Click here to download the template for the  New Mexico Bill of Sale Form and PDF.

How to Write  New Mexico Bill of Sale Form

Follow the steps mentioned below to fill the bill of sale.

Step 1 – Provide information regarding the buyer and the seller

The Seller’s Name

Driver’s License Number

Address along with state and city as mentioned in the ID proof

The Buyer’s Name

Driver’s License Number

Address along with state and city as mentioned in the ID proof

Step 2 – Then provide the details about the vehicle;

Make

Type/Model

Year

Vehicle Identification Number (VIN)

Color

Odometer Reading (provided in miles)

Then Check Yes or No for the inclusion of the title

Step 3 – In the next part the form contains checkboxes regarding the information;

The first box is checked, to determine monetary payment acceptance

Then enter the dollar amount in words followed by the amount in numbers

Provide the agreed date of payment, in the specified format

The document must also be dated

In case the parties have agreed for payment at a later date, then provide that date in the specified format

If any other decisions have been agreed upon by both parties, or there is any other condition regarding the deal, then that must be specified.

A check box is provided to mention if the transfer of a vehicle is a gift.

The last box is for providing information regarding the trade of the vehicle

Step 4 – The Seller’s Disclosure is for providing any information regarding any defects in the vehicle.

Step 5 – Signatures complete and authenticate every legal document. So if all signatories are present before a notary then they must sign respectively:

The Seller’s Signature where his name is printed

AND

The Buyer’s Signature where his name is printed

AND

The Witness’s Signature where his name is printed

Step 6 – The final step is notarization. Once the notary has witnessed all signatures, they will then complete the remainder of the form, by affixing their state seal. Followed by making copies of the document. The original copy is kept with the buyer.

Conclusion

You should introduce an Affidavit for Procurement of Title (SUT-1A) if the vehicle is 5 years old or more and/or a Bill of Sale Form. In the state of  New Mexico, a 4.10% Motor Vehicle Sales and Use (SUT) Tax is charged on the vehicle’s gross sales price or $75, whichever is higher. An extra $64 charge applies to electric vehicles, excluding mopeds.

The Motor Vehicle Sales and Use tax is charged and collected whenever the title of vehicle changes. The title is attached to the number plates. Thus if you buy a replacement vehicle then you can fix the old vehicle’s license plate on the replaced vehicle.

If the plates are not moved to another vehicle, you may return them to any DMV client support community for reusing or annihilate and discard them yourself.

DMV’s duties include vehicle registration and transfer of title with notary and template. It also provides driver’s licenses and keeps driver and vehicle records.

The office likewise gathers  New Mexico’s fuel charge, screens the state’s transportation industry, and fills in as  New Mexico’s Highway Safety Office. You can submit a sold notice by using the  New Mexico MVD Sold Notice online tool – click here to Submit a sold notice.

Likewise, the organization adequately authorizes motoring and transportation-related duty laws, and proficiently gathers and distributes transportation revenues. Check for more information at any  New MexicoMVD or authorized third-party agency, or complete and mail in a Plate Credit Refund Request (Form 96-0353). More details about the Restricted Use 3-day Permit here.

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