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Dealer License by State
New Mexico used dealer license overview
Unofficial summary – verify with state regulator

New Mexico Used Vehicle Dealer License Requirements – 2025 Overview

To sell vehicles on a regular basis in New Mexico, you must obtain a dealer license from MVD. This overview focuses on used and wholesale dealers and summarizes typical requirements.

Important: This is a general summary only. Always confirm the latest requirements, forms, and fees on the official state web pages before applying.

1. Who licenses dealers in New Mexico?

The New Mexico Motor Vehicle Division (MVD) licenses motor vehicle dealers, including new, used, and wholesale dealers.

2. Common dealer license types

Common New Mexico dealer license types include:

  • New Motor Vehicle Dealer
  • Used Motor Vehicle Dealer
  • Wholesale Dealer
  • Other specialized licenses for motorcycles, RVs, and related operations.

3. Education, background checks, and key people

  • Applicants must complete a Dealer License Application and disclose owners, officers, and prior license history.
  • Background checks may be required for owners and key managers.

4. Business location, office, and sign

New Mexico dealers must maintain an established place of business with:

  • A permanent business location in New Mexico with a physical address.
  • An office suitable for conducting business and storing records.
  • A display lot for vehicles offered for sale.
  • A permanent sign displaying the dealership name, visible from the public roadway.
  • Compliance with local zoning requirements.

5. Business entity, bond, and insurance

5.1 Entity and tax registration

  • Form your business entity and register it with the New Mexico Secretary of State if required.
  • Obtain a federal FEIN and New Mexico tax ID numbers, including gross receipts tax registration.

5.2 Dealer bond and insurance

  • New Mexico dealers must post a surety bond in the amount and form specified by MVD to protect customers.
  • Dealers must also maintain liability insurance covering use of dealer plates and lot operations.

6. High-level application steps

  1. Confirm which New Mexico dealer license type applies to your business.
  2. Form your entity and obtain New Mexico tax registrations.
  3. Secure an established place of business with office, display area, and signage.
  4. Arrange your dealer surety bond and liability insurance.
  5. Complete the New Mexico Dealer License Application and any supplemental MVD forms.
  6. Submit your application packet, bond, insurance, and fees to MVD Dealer Licensing.
  7. Complete any inspections and respond to MVD requests for additional information.

7. After approval: ongoing compliance

  • Renew your dealer license and dealer plates before they expire.
  • Maintain current bond and insurance at all times.
  • Keep records of all sales, purchases, titles, and temporary tags for the required retention period.
  • Follow New Mexico rules on advertising, disclosures, and title transfers.