New Mexico MVD-10009 — Bill of Sale

About MVD-10009

Official name: New Mexico Form MVD-10009 — Bill of Sale for Vehicle

Issued by: New Mexico Motor Vehicle Division

Purpose: Documents a private vehicle sale in New Mexico for title transfer when the title assignment is incomplete. The declared sale price is used to calculate the 4% Motor Vehicle Excise Tax owed by the buyer, unless it is under 80% of NADA value.

When required: Needed only when the title's assignment section is incomplete or its assignment spaces are used up. Buyers must title and register the vehicle within 30 days of the transfer ($20 late transfer fee).

When you need MVD-10009

A New Mexico title has an assignment section where the seller records the price, the odometer reading and the signatures. When that section is complete, no separate bill of sale is needed.

MVD-10009 fills the gap in two cases: the assignment is incomplete, or every assignment and dealer reassignment space has been used. The copy we read is Rev. 03/18.

What the form asks for

• The exact sale amount.
• The vehicle or vessel: year, make, model, body type, engine number (if any), VIN or hull number, and the plate or vessel registration number and state. For a boat, also its length, beam width and transom depth.
• An odometer disclosure with no tenths and one mileage code: actual mileage (AM), in excess of mechanical limits (EL), not the actual mileage (NM), or exempt (EX).
• Any lienholder: name, number, address, file date and maturity date. A dealer adds its name and license number.
• The seller's and buyer's names and addresses. A second seller also signs when the vehicle is jointly owned.

What the seller promises

By signing, the seller sells the vehicle for the exact amount shown, warrants it is free of liens, and certifies the information is true. The form warns that any change or erasure voids it, so start a clean copy if you make a mistake.

What the buyer does next

The buyer has to title the vehicle in their own name before selling it again. The order is:

1. Take MVD-10009, the title and any other ownership papers to an MVD field office.
2. If the title is from another state, or the vehicle was never titled, bring the vehicle for a visual inspection.
3. Title and register within 30 days of the sale. After that, a $20 late transfer fee applies, and driving it unregistered adds another penalty.
4. Pay the excise tax when you apply for the title. If you wait more than 90 days, a 50% penalty is added to the tax.

How the excise tax is worked out

• The Motor Vehicle Excise Tax is 4%. Vehicles bought before July 1, 2019, pay 3%.
• For a used vehicle, the MVD taxes the higher of the declared price or 80% of the N.A.D.A. average trade-in value, based on the VIN and the actual mileage.
• The price on the title or bill of sale is used when no N.A.D.A. value exists, or when the title has a salvage brand.
• If the vehicle is worth less because of its condition, you can pay first and then file a Request for Refund (MVD-10208) with a body shop estimate or a written appraisal.
• A real gift owes no excise tax, but only with the notarized Affidavit of Gift (MVD-10018).

What to Include in a New Mexico Bill of Sale

A complete bill of sale usually includes:

• Seller name, address
• Buyer name, address
• Year, make, model
• VIN
• Odometer
• Sale price
• Date of sale
• Both signatures