NM
New Mexico Vehicle Cost Guide 2026
New Mexico charges 4.875% state sales tax plus local taxes on vehicles. Annual registration is modest. Emissions testing is required in Bernalillo County (Albuquerque). New Mexico is not a no-fault state; minimum liability is 25/50/10.
State Sales Tax
4.88%
Vehicle purchases
Avg. Annual Insurance
$1,650
Full coverage
EV Tax Credit
Varies
State-level
Registration Fee
$27
Annual
DMV / Registration Fees
| Title Transfer | $17 |
| License Plate Fee | $10 |
| Registration (Base) | $27 |
Insurance Requirements
No-Fault State: No
Inspection Required: Yes
Minimum Coverage:
Bodily Injury: $25,000 per person / $50,000 per accident
Property Damage: $10,000
Uninsured Motorist: $25,000/$50,000
Calculate Your Costs
Use our auto loan calculator with New Mexico tax rates to estimate your total vehicle costs.
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