How do I obtain a salvage title in New Mexico? New Mexico

The New Mexico MVD strictly governs salvage vehicles for the watchful purpose of protecting the consumer. Unlike many other states, you cannot repair, rebuild, or reconstruct a salvage vehicle with the intent, or hope, of making it road worthy. Consequently, you must conform your rebuilt auto dreams to the realities of New Mexico's salvage title law which limits you to two options: sell the nonrepairable vehicle to a scrap yard or surrender the title to your insurance company.

NM Salvage Title Procedures

If you opt to accord the title to your insurance company, after, of course, fair compensation for the loss, you'll need to alert the MVD. Be sure, if the license plates were not destroyed in the collision, to remove from the vehicle. You will then have 30 days to either transfer them to another vehicle of the same class and under your name, or surrender them to the MVD, which, by process alone, will cancel your registration. Be sure to cancel your car registration BEFORE canceling the insurance. 

Or, if you decide to retain the destroyed vehicle and sell it to scrap yard, you'll need to visit the MVD and have the existing title stamped or "branded" as a salvage title. This will then give you the green light to legally sell it to any salvage yard, auto recycler or licensed dismantler. You will need to assign the title and remove the license plates. A bill of sale is not required, but recommended.

Vehicle History Report (VHR)

Though New Mexico law protects you from unknowingly purchasing a salvage vehicle, you should still order a VHR before buying a new used car. This report will provide you with the car's entire vehicle history. This includes accident reports, service records, number of owners and much more. A VHR will allow you to buy or walk away with absolute peace of mind. Most reputable vehicle history reports can be ordered online.

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