# New Mexico — Vehicle trade-in sales tax credit rules by state -- full price taxed, or only the difference

For New Mexico, trade-in credit allowed is full credit, recorded from its source on 2026-08-20.

- **State:** New Mexico _(our reading, not quoted from the source)_
- **Trade-in credit allowed:** full credit _(our reading, not quoted from the source)_

## What the source says

> The tax is 4% of the price paid for the vehicle less any trade-in credit.

## Source

- https://www.tax.newmexico.gov/all-nm-taxes/2020/10/22/motor-vehicle-excise-tax/

Last verified: 2026-08-20. Review by: 2027-08-20.
Part of [Vehicle trade-in sales tax credit rules by state -- full price taxed, or only the difference](https://referencesource.org/vehicle-trade-in-sales-tax-credit-by-state/).