Personalised Number Plates - the selling dilemma

Own a personalised number plate? Trying to decide whether it's worth selling? Or should you just let it go with the car? It's a dilemma faced by thousands of owners. Usually when they come to sell their car. They decide they don't want to keep the personalised number plate, but are left wondering whether it's worth retaining it. If your number plate is worth a £1000+, it's usually a no-brainer. Retain the personalised number plate, and sell the car. Then sell the number plate separately. It may take a while to sell it, but probably worth holding on to. See the problem is....the DVLA retention fee of £105 Edit: £80 as of 2015. An upfront cost, which is prohibitive. If the personalised number plate itself is worth around £300-500, the DVLA fee to retain it seems quite high in proportion. And, generally in this price range, it's a buyer's market. There's loads of choice for the buyer, so it may take some time to sell yours. And if you don't sell within 12 months of retention, there's the added cost of extending the number plate Retention Document for a further 12 months - another cost of £25. As a seller, you would of course look to recoup the cost of retention from the buyer. That has to be balanced against the upfront cost of placing the number plate on retention. On the plus side, though, it is possible to get some of the £105 back should you decide to give up on selling the personalised number plate after it's been placed on retention. If the registration number is not assigned to a vehicle it is possible to claim a refund for the assignment fee portion of the fee (i.e. £80). So all is not lost. It's not an easy decision to make. The key is to not just look at the valuation...but think about how likely the number plate is to actually sell. If there are lots of similar personalised number plates for sale think carefully about how much demand there's likely to be for yours. What's special about your number plate? If you decide to retain the number plate and sell it, then be realistic about the asking price. Price it competitively against similar number plates to make sure yours gets chosen ahead of others for sale. You can improve your chances of selling your personalised number plate if you sell privately, because there's no number plate dealer commission fee inflating the selling price. That puts you in a strong position to compete with others for sale.

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