Cost of Owning a Car in New Mexico
How New Mexico's gas prices, electricity rates, sales tax and insurance costs affect what you'll typically pay to own a vehicle.
New Mexico at a glance
Gas price
$3per gallon, illustrative averageElectricity
$0.14per kWh, illustrative averageSales tax
5.12%plus ~$65 average registrationInsurance in New Mexico runs close to the national average in this model, reflected as a 0.95× multiplier on our base class rates.
5-year cost by vehicle class in New Mexico
Uses real market-average vehicle prices per class (from our 48-vehicle MarketCheck pull) combined with New Mexico-specific tax, fee, fuel and insurance data.
Sedan
$28,2535-year estimate, $471/moSUV / crossover
$40,6255-year estimate, $677/moTruck
$50,9925-year estimate, $850/moElectric
$37,9255-year estimate, $632/moLuxury
$62,0275-year estimate, $1,034/moYour actual cost depends on the specific vehicle — use the interactive calculator and select New Mexico for a number tailored to your car, or browse real vehicle estimates.