What makes a dealer sale utv sale different in Albuquerque?
A dealer sale involves a licensed vehicle dealer selling to a private buyer. Dealers are regulated at both the federal and state level and must comply with requirements that do not apply to private party sales. In Albuquerque, title transfers are handled at the NM MVD – Albuquerque Office (5301 Central Ave NE, Albuquerque, NM 87108). Licensed dealers are required by the FTC Used Car Rule (16 CFR Part 455) to display a Buyers Guide sticker on every used vehicle offered for sale. This sticker discloses whether the vehicle is sold "as-is" or with a warranty, and what systems are covered. Dealers must also collect and remit applicable state sales tax on the transaction.
What is the sales tax on a dealer sale utv sale in Albuquerque?
The combined sales tax rate in Albuquerque is 7.875%. New Mexico GRT (Gross Receipts Tax) state 5.125% + Bernalillo County/ABQ 2.75%
Is notarization required for a dealer sale utv bill of sale in Albuquerque?
No. New Mexico does not require notarization for private vehicle sales.
What does the buyer need for a dealer sale utv purchase in Albuquerque?
Buyers purchasing from a licensed dealer may have access to state lemon law protections, depending on whether the dealer offered a warranty. The implied warranty of merchantability under UCC applies unless the dealer specifically disclaims it in the Buyers Guide. Request a copy of the Buyers Guide, any warranty documentation, and vehicle inspection reports. Bring the signed title, completed bill of sale, and payment for the $8.00 title transfer fee to the NM MVD – Albuquerque Office.
Are there special New Mexico requirements for a dealer sale transaction?
Dealer-generated bills of sale often include additional disclosures beyond a private party document. The document must identify the dealer's license number in most states. Financing through the dealer triggers Truth in Lending Act (TILA) disclosure requirements, including APR, total finance charge, and payment schedule. Dealers must hold a valid license from the state motor-vehicle authority and show their license number on the bill of sale.
Is a dealer sale bill of sale legally binding in Albuquerque?
Yes. A properly executed bill of sale is legally binding in New Mexico regardless of party type. Both parties should sign and retain a copy. The seller must also sign over the vehicle title at the time of sale.