How to Get a New Mexico Bonded Title
This New Mexico bonded title guide is for informational purposes only. SuretyBonds.com does not regulate or manage bonded title issuance. Contact the New Mexico Motor Vehicle Division for the latest official requirements.
A New Mexico bonded title is a legal document that establishes vehicle ownership when the original title is unavailable or can not be transferred. It allows individuals who purchase a vehicle without a proper title to obtain legal ownership.
New Mexico title bonds protect the state and future vehicle owners from financial losses or damages. Continue reading for step-by-step instructions, application costs and bonding information.
Who Needs a New Mexico Bonded Title?
New Mexico Statutes Section 66-3-24 require individuals without proof of vehicle or boat ownership to file a surety bond. Typically, you will need a bonded title under any of these conditions:
- You did not receive a title when you bought the vehicle.
- The title you received was incorrectly assigned to you.
- You received a title but lost it before transferring it into your name.
How to Apply for a Bonded Title in New Mexico
Simply follow the steps below to get your New Mexico bonded title(s).
Step 1: Complete a vehicle record search
First, contact your local Motor Vehicle Dealership to check if your vehicle is still registered under a previous owner’s name or if there are any existing liens.
Step 2: Get a VIN inspection
If there are no liens or identified owners on record, visit a local MVD office for a certified VIN inspection. You'll need the inspector to complete an Affidavit of V.I.N. form for your bonded title application.
Step 3: Appraise the vehicle
Determine your vehicle’s current value using the average trade-in value on NADA. If you are titling a motorcycle, mobile home or specialty car, check the MVD Bonds and Liens page for valuation details.
Step 4: Purchase a New Mexico title bond
Next, get a surety bond for two times the appraised value of your vehicle. You can buy your certificate of title bond online 24/7 at SuretyBonds.com. Typically, New Mexico title bonds cost $15 per $1,000 of coverage, starting at $100.
Step 5: Submit your application
Complete the bonded title application form (MVD 10070) and gather the following documents:
- Affidavit of V.I.N. Form
- Any ownership documents (bill of sale, canceled check, etc.)
- Proof of New Mexico residency
- Signed title bond form
You can submit this packet with payment for applicable registration fees to your local MVD office or mail it to this address:
Motor Vehicle Division-Dealer Licensing Bureau
Attn: Surety Bonds
505 Marquette NW Suite 1501
Albuquerque, NM 87102
The Bureau will review your bonded title application and notify you of your approval status. Expect at least 30 days of processing time.
How Much Does a New Mexico Bonded Title Cost?
New Mexico title bond costs start at $100. The exact cost will vary depending on the vehicle type and fees required by the New Mexico Motor Vehicle Division.
Do I Need to Renew My Bonded Title?
No, your New Mexico bonded title and title bond will expire three years from the effective dates and won’t require renewal.
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Last Updated: July 12, 2024
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