U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New Mexico > Albuquerque
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 07-13-2011, 10:12 PM
 
463 posts, read 738,717 times
Reputation: 217

Advertisements

Just wondering if you buy a car from a private seller, is there a sales tax, and if so how much? Thanks
Reply With Quote Quick reply to this message

 
Old 07-13-2011, 10:28 PM
Status: "I love CO!" (set 8 days ago)
 
Location: Colorado Springs
1,644 posts, read 2,418,327 times
Reputation: 444
Yes. 3%.

http://www.tax.newmexico.gov/All-Taxes/Pages/Motor-Vehicle-Excise-Tax.aspx (http://www.tax.newmexico.gov/All-Taxes/Pages/Motor-Vehicle-Excise-Tax.aspxhttp://www.tax.newmexico.gov/All-Taxes/Pages/Motor-Vehicle-Excise-Tax.aspx - broken link)
Reply With Quote Quick reply to this message
 
Old 07-13-2011, 11:11 PM
 
463 posts, read 738,717 times
Reputation: 217
Can't get the link to work, thanks though
Reply With Quote Quick reply to this message
 
Old 07-14-2011, 06:53 AM
 
Location: Sacramento Mtns of NM
3,066 posts, read 3,467,536 times
Reputation: 2227
It's common knowledge that people trading vehicles privately LIE about the amount paid for the vehicle in order to minimize the taxes when the vehicle is re-registered to the new owner. Not sure what the consequences are if there is proof of fraud in this instance, or how often it's exercised.

Reply With Quote Quick reply to this message
 
Old 07-14-2011, 08:08 AM
Status: "I love CO!" (set 8 days ago)
 
Location: Colorado Springs
1,644 posts, read 2,418,327 times
Reputation: 444
Motor Vehicle Excise Tax

I double pasted!!

"The N.A.D.A. value is used if the declared purchase price of the vehicle is lower than 80% of the N.A.D.A. average trade-in or wholesale value. "
Reply With Quote Quick reply to this message
 
Old 07-14-2011, 10:46 AM
 
Location: Old Town
1,733 posts, read 1,973,851 times
Reputation: 1406
Quote:
Originally Posted by joqua View Post
It's common knowledge that people trading vehicles privately LIE about the amount paid for the vehicle in order to minimize the taxes when the vehicle is re-registered to the new owner. Not sure what the consequences are if there is proof of fraud in this instance, or how often it's exercised.

Not any longer. I sold a truck to my brother for 1/2 of what it was worth. The MVD taxed him at the NADA value, not what I sold it to him for.
Reply With Quote Quick reply to this message
 
Old 07-14-2011, 11:08 AM
 
463 posts, read 738,717 times
Reputation: 217
3% isn't to bad, I hear theres no tax in AZ?
Reply With Quote Quick reply to this message
 
Old 07-14-2011, 12:56 PM
 
Location: New Mexico U.S.A.
19,276 posts, read 23,521,678 times
Reputation: 22208
Quote:
Originally Posted by jayely1 View Post
3% isn't to bad, I hear theres no tax in AZ?
In Arizona the fee to register your vehicle is generally less than $10, but there is an additional vehicle license tax (VLT) assessed at the time of registration. This is the equivalent of the personal property tax charged by other states. The more valuable your vehicle, the higher the VLT will be.
__________________





Contests Open For Photo Entries Until Aug 26, 2015:
August 2015 "Theme" Contest
August 2015 "Show Us Your Best Shot" Contest
__________________
Reply With Quote Quick reply to this message
 
Old 07-14-2011, 05:31 PM
 
Location: Sacramento Mtns of NM
3,066 posts, read 3,467,536 times
Reputation: 2227
Quote:
Originally Posted by NMHacker View Post
Not any longer. I sold a truck to my brother for 1/2 of what it was worth. The MVD taxed him at the NADA value, not what I sold it to him for.
I had heard that before, and I should have mentioned it as a possibility, but I didn't know if is true or not.

I wonder how long ago that rule began being enforced?

Reply With Quote Quick reply to this message
 
Old 07-14-2011, 07:42 PM
 
Location: Tempe and Ruidoso
1,067 posts, read 1,460,568 times
Reputation: 488
Quote:
Originally Posted by Poncho_NM View Post
In Arizona the fee to register your vehicle is generally less than $10, but there is an additional vehicle license tax (VLT) assessed at the time of registration. This is the equivalent of the personal property tax charged by other states. The more valuable your vehicle, the higher the VLT will be.
We paid over $500 for our VLT to renew our plates on our Mustang (2008 convertible) this year in Tempe.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2013 data
Loading data...

123
Hide US histogram


Over $94,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New Mexico > Albuquerque
Similar Threads

All times are GMT -6.

2005-2015, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28 - Top