New Mexico Car Sales Tax Calculator – Fast, Free & Accurate

What Is the Motor Vehicle Excise Tax (MVET)?

In New Mexico, when you buy a car—whether new or used—you pay a 4% Motor Vehicle Excise Tax. This tax applies to the net purchase price of the vehicle.

That means:

• You start with the vehicle’s price.
• You subtract any trade-in value.
• The result is the taxable amount.
• The MVET is 4% of that taxable amount.

Example:

• Vehicle price: $28,000
• Trade-in value: $6,000
• Net price: $22,000
• MVET: 4% of $22,000 = $880

How the New Mexico Car Sales Tax Calculator Works

Our New Mexico Car Sales Tax Calculator does the math for you. No spreadsheets. No confusion. Just plug in your numbers:

1. Enter the Vehicle Price – the amount you’ll pay for the car.
2. Enter the Trade-in Value – if you’re trading in another vehicle.
3. Click “Calculate Tax” – and the calculator instantly shows:
   • Net price after trade-in
   • MVET rate (4%)
   • Total estimated tax

If you make a mistake, hit “Reset” and start over.

Why Use the Calculator?

Car buying already comes with enough surprises. The last thing you want is to be blindsided at the DMV when registering your car. Here’s how the calculator helps:

• Budgeting clarity – Know your true out-the-door cost.
• Trade-in impact – See how much a trade-in reduces your tax bill.
• Peace of mind – Avoid underestimating what you’ll owe.

Things to Keep in Mind

• The MVET is separate from registration fees, title fees, and local surcharges, which may also apply.
• The tax applies whether you buy a car from a dealer or a private party.
• If the trade-in value is higher than the purchase price, your taxable amount becomes zero—and you owe no MVET.

Try the New Mexico Car Sales Tax Calculator

Here’s the tool in action: