Private number plates offer the owner of a vehicle the chance to have a plate that reflects them or makes a statement about them. As of September 2001 private plates have gone to seven possible character combinations. This has not gone over very well with the general public, which has meant an increase in business for the auction houses. They auction off with lower number combinations. The lower the number of possible combinations on the plate, the more valuable the private number plate becomes.
Why people may want to get one People would originally get a private number plate because it said something about them. Then it became a status symbol for the owner and now it has become an investment opportunity for the owner of the plate. Many people, and even businesses, are looking at their private number plates as an investment. The smaller the number of possible character combinations on the plate the more valuable they become.
Some suspect that some of the earliest private number plates could bring in well over 250,000 pounds at auction. The lure of the chance to make a lot of money is there, but there is a bit of caution. Not all private number plates have the same potential to gain value. Those that are are re-issues from the DVLA will not have the same potential as others will. Also, you will want to focus on the older private number plates as they will have a much better chance to increase in value over time.
Overview on history The private number plate was first introduced in 1903 with the plate 'A1'. They are unique from any other type of plate because there is only one of each private number plate made. They do not get re-issued in subsequent years. Each private registration is only issued to one person and vehicle. There have been a number of increases in the number of possible character combinations over the last 100 years. They began with 2 possible character combinations and currently there are 7 possible character combinations.
DVLA's involvement The DVLA is the official issuer of private registrations and they also auction off existing private registration plates. You will want to seek out professional help before attending a DVLA auction to be sure that the private number plates you are going to bid on at auction will be worth your money. You can also go to the DVLA website to search for and get your own new private number plate. One suggestion that has been made is that you will want to make sure that the private number plate actually says something, without adding anything to it. Private registrations that spell out a word increase in value more than those that do not.
Most people buy a private number plate on a whim , only when they are spending thousands do they think deeply about the pro's and con's of owning one. There are arguments for and against opting out of the current registration number system used in the uk which identifies the age of the car and the area of the country where it was first registered , here we consider a few.
Hiding the age of the vehicle .While ageless registration numbers do this superbly and suffix types are catching them up , prefix numbers can just make your car look older than it is , while replacing a current 07 number with something like a 51 number is the worst scenario.
Vehicle recognition . A short and memorable registration number will mean that anyone that knows you will recognise your car as they pass and maybe they will flash their headlights and wave, however are you always where you should be? What if you are spotted whilst you are off your normal route on a covert mission and then this is mentioned to exactly the wrong person , sometimes it pays to be anonymous.
Investment. Whilst it is true that many cherished numbers appreciate over time it should be remembered that there are on costs involved in owning such a registration. Every time you change car the DVLA will charge you ?80 for the priviledge of transferring the registration from your old vehicle to your new one . If you put the number on retention you avoid this charge but will have to pay ?105 to do this and then ?25 per annum to renew the certificate , and what is the point of havin it if it's not on the car?
Vehicle personalisation. It is becoming more and more difficult for people to make their car look different from others with type approval and the insurance companies refusal to accept modifications so private number plates have become a popular option. However there may be a danger of loss of exclusivity and the whole thing becoming slightly naff , remember the sunstrips people used to have at the top of their windscreens with their names on?
Both Derek Both & Malcolm Forster are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.