Since the DVLA began auctioning private custom number plates in 1996, more than 1.2 billion have been sold. While ordering your personalized plate is simple, there are a few things to keep in mind.
Is getting a personalized license plate a good investment?
Most people who buy a custom number plate do so because they think it is fun to personalize their car. Other alternatives to the standard 7-character registrations include Others, on the other hand, buying a number expecting it to increase in value over time. If this describes you, double-check all facts before completing the transaction.
It is advised to research the future value of a license plate before purchasing one.
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Like everything else in life, the value of something can fluctuate. Even if the value of your home increases in the future, you should expect to wait a few years, if not decades.
Names like B1 LLY, JAM 33S, or DAN 13L are examples of names that tend to increase in value. These registrations initially cost a lot of money, so most people buy them for fun rather than for profit.
A recession may reduce the value of personalized plate numbers, which are considered a luxury item. Finding the right buyer willing to pay the price you want to sell your home can take time.
Unlike other valuables, you do not need to keep your personalized number plate locked away in a vault. It will never age or wear out, and it will never need to be insured for loss or damage. Registration can be stored on a DVLA-issued document for ten years, which can be renewed if needed.
Alternatively, the registration can be easily transferred to a vehicle, allowing daily use by the owners. For £80, the Department of Vehicle and Road Safety will retain the number plate until you’re ready to sell or use it again.
Buying number plates as a long-term investment
These simple guidelines will help you determine which registration option is best for you. Make a budget and stick to it. Don’t buy a plate you can’t afford.
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Financial assistance is available but not required.
A unique personalized number plate combination will cost more to obtain. Due to increased demand, popular or common initials command higher prices.
Don’t limit your search to one website. Visit numeroplates.co.uk to learn more about the various personalized number plates available.
Only deal with companies that all relevant bodies have fully accredited. numeroplates.co.uk has over 30 years of industry experience and is a leader in the field.
With this knowledge, you can confidently purchase your personalized license plates and proudly display them on your vehicles for life. Even though the value of your registration hasn’t increased significantly, you’ll likely receive at least the amount you paid for it. If you decide to sell, it will make a profit.
A recession may reduce the value of personalized plate numbers, which are considered a luxury item. Finding the right buyer for such items can take time. Buying a number plate is a long-term investment.
It will never age or wear out, and you won’t need to be insured for loss or damage.
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The registration can be stored on a DVLA-issued document for ten years, which can be renewed if needed.