How To Get a Rebuilt Title in New Mexico

How to Get Rebuilt Title in New Mexico

When a car is severely damaged, it is sent to a scrap yard and dismantled unless there is an intention to rebuild it.

In such instances, the car must obtain a rebuilt title, validating that a previously deemed total loss by the insurance company has been salvaged and repaired to a functional state.

While it does not erase the fact that the vehicle was once deemed a total loss, a rebuilt title signifies that it has undergone a rigorous inspection by a licensed professional.

Let’s look at everything you need to know about how to get a rebuilt title in New Mexico.

How To Get a Rebuilt Title in New Mexico

If you intend to sell or purchase a previously declared totaled vehicle, the state will require you to have a rebuilt title.

To get a rebuilt title in Mexico, you must go through the following process:

1. Get a Salvage Title

To be eligible for applying for a salvage title from the New Mexico Motor Vehicle Division (DMV), the insurance company undertakes a comprehensive assessment to categorize the vehicle as salvage or non-repairable.

This critical evaluation enables the owner to file a claim for total loss. It grants them the freedom to decide between accepting a full settlement or opting for a partial settlement.

The insurance agency assumes vehicle ownership if the owner opts for a total settlement.

Conversely, a partial settlement enables owners to retain their vehicles and apply for a salvage title.

After the insurance company has declared the car a total loss, the vehicle owner must apply for a salvage title within twenty days of this declaration.

You will need to submit the following documents to the Motor Vehicle Division (MVD) in New Mexico:

  • The original title of the car or Manufacturer's Certificate of Origin (MCO) with the word "SALVAGE" or "NON-REPAIRABLE" stamped diagonally across the front.
  • A completed Salvage Vehicle or Vessel Notification form (MVD11103).
  • Salvage title fee.

2. Repair the Car to Road Condition

Once you have obtained the salvage title for your vehicle, you can proceed with the restoration process.

Depending on your automotive skills, you can perform the repairs yourself or seek assistance from a qualified mechanic.

It is important to note that assembled vehicles must meet the federal standards for highway use to ensure their compliance.

Also, keep all details of the restoration process, including receipts and information on parts replaced.

3. Go Through a VIN Inspection

Once you have successfully reconstructed your salvaged vehicle, the vehicle must undergo a vehicle identification number check through the National Crime Information Center database.

Authorized VIN inspectors typically perform VIN checks at various New Mexico Motor Vehicle Division agencies throughout the state.

The preliminary VIN inspection confirms and records that the vehicle has no visible VINs and does not appear to be factory-manufactured.

Additionally, the inspectors will check that all the necessary equipment listed on the Vehicle Equipment Affirmation form (MVD-10053) is present and functioning correctly.

This inspection helps ensure that the vehicle meets the required standards and specifications.

The MVD will then assign a permanent identification number, a New Mexico Assigned Number, for the rebuilt vehicle.

The owner will need to have this number physically marked or engraved onto the vehicle, such as through machining, stamping, die-punching, or any other appropriate method.

Afterward, the owner must return for another visual inspection to ensure compliance with the assigned number and other requirements.

4. Submit the Necessary Documents for the Rebuilt Title

Generally, to initiate the application process for a salvaged title in New Mexico, specific documentation must be provided:

  1. The vehicle title or Manufacturer's Certificate of Origin (MCO) duly endorsed with the designation "SALVAGE" after accepting a partial settlement.
  2. A fully completed Salvage Vehicle or Vessel Notification (Form MVD11103).
  3. Affirmation Certifying Ownership form (MVD-10010) to prove you are the vehicle's rightful owner.
  4. The Vehicle Equipment Affirmation (Form MVD10053) was meticulously filled out.
  5. The Affidavit of VIN(s) of each inspected vehicle identification number associated with the factory chassis, cab, and engine.
  6. The Manufacturer's Certificate of Origin (MCO) or the vehicle's existing title.
  7. Invoices and bills of sale substantiating the purchase of each part utilized in the repair or reconstruction of the vehicle.
  8. Valid proof of insurance coverage.
  9. A weight certificate, which aids in determining the applicable registration fees.
  10. Payment for the relevant titling fees and excise taxes.

5. Undergo a Final Inspection

Rebuilt cars must come back for a final inspection. This inspection will be carried out by an MVD employee to visually confirm that the New Mexico Assigned Identification Number has been correctly marked.

This inspection is necessary before they issue a New Mexico rebuilt title and registration for the vehicle.

Rebuilt Title Cost in New Mexico

The final step in the salvage title application process with the New Mexico DMV involves paying applicable fees.

The NM MVD determines the valuation of the salvage title and is subject to potential fluctuations over time.

To ensure accuracy, vehicle owners are strongly advised to contact the NM MVD before making any payments and obtain the precise amount required to obtain a salvage title.

It is important to note that the fees for a salvage certificate and a rebuilt title may differ.

Inspections Required for a Rebuilt Title

As part of the rebuilt title process, your vehicle will undergo inspections to verify its roadworthiness.

These inspections typically include a vehicle identification number (VIN) check, ensuring the VINs on the factory chassis, cab, and engine align.

Additionally, a comprehensive examination conducted by a certified VIN inspector is necessary to evaluate the overall condition of the rebuilt vehicle.

Insurance Coverage for a Rebuilt Car in New Mexico

You can get insurance coverage, but most insurance companies may decline to provide coverage for reconstructed salvage vehicles.

Such vehicles are often perceived as posing a heightened level of risk, prompting insurers to stay clear of them.

Additionally, the insurance premium you might get is poor compared to those for clean cars.

Shopping around and consulting with insurance providers specializing in rebuilt vehicles is best.

Restrictions or Limitations With a Rebuilt Title Vehicle

While a rebuilt title indicates that a vehicle has undergone repairs and inspections, it is essential to be aware that certain restrictions or limitations may apply.

Insurance companies may have specific policies regarding coverage for rebuilt title vehicles, and some lenders may have stricter loan requirements.

Additionally, certain states may have regulations or inspection requirements for rebuilt title vehicles from other states.

Frequently Asked Questions

Can I drive my vehicle with a salvage title while waiting for a rebuilt title?

Operating a vehicle with a salvage title on public roads is generally not permissible. Salvage title vehicles are often deemed unfit for regular operation due to severe damage or other issues. It is advisable to refrain from driving the vehicle until it has been repaired, inspected, and officially designated with a rebuilt title.

How long does it take to receive a rebuilt title in New Mexico?

The processing time for a rebuilt title in New Mexico can vary based on factors such as the application volume and the submitted documentation's completeness. It is recommended to contact the NM Motor Vehicle Division for an estimate of the current processing time.

How much does it cost to get a rebuilt title in New Mexico?

The fees for titling your vehicle, including registration in New Mexico, can range from $27 to $62 annually. You will also pay excise tax. The excise tax will be calculated based on the sale price mentioned on the invoice for the vehicle chassis, kit, and any additional parts you purchased to build the vehicle.

Can I apply for a rebuilt title if my vehicle was previously declared salvage in another state?

Yes, you can apply for a rebuilt title in New Mexico even if your vehicle was previously declared salvaged in another state. However, you must provide the necessary documentation, including the out-of-state salvage title and supporting repair documentation.

Can I finance a vehicle with a rebuilt title?

Financing options for vehicles with rebuilt titles may vary among lenders. Some lenders may have restrictions or higher interest rates for financing rebuilt vehicles. It is recommended to discuss your options with different lenders and inform them about the rebuilt title status of the vehicle.