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- What you need to sell a car in New Mexico
- Getting a pre-sale inspection
- Documenting the sale
- Signing the title over
- Reporting the sale
- Finding affordable car insurance
- FAQs about car sales
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You’ll need to sign the back of the title, fill out an odometer disclosure statement, and complete a bill of sale to comply with New Mexico’s laws for selling vehicles. If you don’t give the proper information to the MVD, you could be liable for the vehicle even once it’s out of your hands.
Completing a car sale as a private seller isn’t as difficult as it might seem. Just make sure you’re aware of your state’s rules and regulations, as each state has a slightly different set of laws regarding car sales.
Here, the car insurance super app Jerry reviews the process of completing a private car sale in New Mexico.
What you need to sell a car in New Mexico
First, you’ll need to set yourself up for a sale by gathering the proper documentation, including:
- New Mexico Certificate of Title (MVD-10030). If you need a new title, send in form MVD-10901 and $5 for a duplicate
- Notice of Vehicle Sold (MVD-10009)
- The VIN (vehicle identification number)
- Bill of Sale
- Odometer Disclosure Statement
- Lien Release (form MVD-10041). You may need this if your car has an outstanding loan
Getting a pre-sale inspection
New Mexico doesn’t require sellers to have their cars officially inspected prior to closing unless you’re in Bernalillo County, in which case you may be required to have an emissions inspection. Check with your MVD to make sure.
Even if it’s not required, getting a safety inspection for your car can help promote transparency with your buyer. With official inspection documents on hand, you can have a conversation with your buyer about any mechanical or safety issues the car might have.
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Documenting the sale
To keep track of your sale details, you’ll want to fill out a bill of sale to be turned in to the MDV. You’ll need to include the following information on the document:
- Your name, address, signature
- Date of sale
- Selling price
- The car’s mileage (odometer reading)
You’ll also want to write down the car’s mileage on the Odometer Disclosure Form.
Signing the title over
The crucial step in completing a car sale is the title transfer. Both parties must sign and endorse the back of the title where indicated.
If your car still has a loan, the lienholder will be listed on the title, and you’ll need to obtain a lien release. This will involve either paying off the loan entirely before selling the car or having the buyer agree to assume responsibility for the loan.
Reporting the sale
The final step is to complete a Notice of Vehicle Sold, remove your license plates, and submit everything to the MVD. You have 30 days to transfer plates to a new car or to take them to MVD for termination.
Finding affordable car insurance
Selling a car can be a little time-consuming—but finding a new car insurance policy never has to be! Jerry is the car super app that helps you save time and money on car ownership.
Just answer a few questions, and Jerry will browse quotes from over 50 top providers and show you up to dozens of the best results to compare. Once you find a policy you like, just select it, and Jerry will even help you cancel your old policy and register for the new one.
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