Owner loses his personalised number plate due to apparent paperwork blunder after his car was written off. Guide to stop that happening to you.
- Choose your number plate carefully. Spend on a good quality registration number, and invest wisely.
- Aim for a registration number with a wide appeal
- Compare prices with other number plates similar to the one you are considering investing in.
- Expect an initial drop in value, especially if you buy from a dealer.
What's in a name?
Personal number plates are no longer just for private cars.
More and more businesses are using registration numbers to reinforce their brand image. And it's not just big businesses. The small ones are doing it too. Company name is the obvious choice, of course. Like JAS for builder's merchant John A Stephens. All their lorries have a JAS number plate.
Selling number plates is unlike selling anything else. Each registration number is unique, and means something different to each individual. As a first option, most will choose a number plate with their name (if budget allows) or, alternatively, their initials. Others will opt for a number plate that reflects a hobby (like horses or a music number plate), or their job (such as doctor or pub). The most common (and affordable) are initials. Some initials are more common than others.
Why do personal number plates cost so much? Some of it is simply down to demand. How many Dave's would love a private number plate? There are only a few combinations of letters and numbers to make a DAVE number plate (or any other popular name you're aiming for). So, like anything else, price will be affected by how much demand there is. And there's only one of any particular number plate. So, that's the answer then. Or is it? Well, no. It's not so simple. Most personal number plates are sold through dealers.
If you want to sell a number plate, the whole process can seem overwhelming. And pricey. Number plate dealers will charge a tidy sum in commission fees.
For the past 2 decades, the only option has been to sell a number plate via a dealer. That, of course, means that both the seller and the buyer lose out.