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``No contest'' means you are not admitting guilt, but are accepting there is sufficient evidence to convict you. ``Guilty'' means you are admitting guilt. Either way, the court will sentence you for the crime.
In general, no contest is the better way to go, but it probably wouldn't make much difference in your situation. The court can decline to accept the no contest plea, but I sincerely doubt it will do so in a traffic violation situation.
How Long Does a No-Contest Plea Stay on Your Record in Texas? Both misdemeanor and felony convictions remain on your record indefinitely. A no-contest plea will result in a permanent criminal record for both types of offenses unless you successfully petition for expungement or an order of nondisclosure (sealing).
If you plead "nolo contendere" (no contest) you stated that while you do not wish to plead guilty you agree that the prosecutor has sufficient evidence that the court would find you guilty. This is considered the same as pleading guilty as far as the conviction is concerned.
If you might face a civil case related to your alleged crime, a no-contest plea can help you avoid giving the plaintiff a powerful piece of evidence. On the other hand, a guilty plea might get you a better deal from the prosecution, but it's essential to weigh the potential for a civil lawsuit.
No contest is the same as a guilty plea, period. It just can't be used against you in civil case.