Information on how to find your ideal private plate with CarReg.
Many clients often start with buying a cheap make your own, or other basic plates which seem very fashionable with the younger drivers. Once clients get “the bug” they sometimes decide to invest more! To help investors CarReg are now offering heavily discounted numbers here on this page.
What is a Private Number Plate?
The definition of a private number plate is simply a vehicle registration that is chosen and can be personalised to the driver rather than the original set of letters and numbers issued to the vehicle by the DVLA. Costs can vary from a few hundred to hundreds of thousands of pounds. There are some sub categories within car reg plates which refer to certain patterns of letters of numbers; dateless, suffix, prefix and new style. There are lots of synonyms (words that mean the same thing) for the term ‘private number plate’ such as cherished number plates, vanity and personalised number plates.
Investing In Private Plates
Here at Carreg we have noticed sales have rapidly escalated over the last few years. Knowledgeable customers are aware that rare private registrations – especially the dateless – have historically been fantastic investments.
Some registrations have performed along the same lines as other traditional investments such as works of art, antiques and property. And of course, private number plates need no up-keep or maintenance. The more common initials will always be better sellers: a plate with “S” at the end. For example, “JS 1″.
A video showing some high prices achieved at DVLA auctions
Choosing Your Style
You can make prefix plates such as “A5 JON” using our Make Your Own service. First select the prefix (in this case the letter “A”), then choose from one to three numbers (here we’ve gone for “5″). Lastly pick the final three letters: the “JON” part on the example. Here you may be lucky enough to get your name or part of your name. Many of our customers will choose their initials or those of their spouse or children.
With new current style number plates like “AB55 CDB” you could choose your initials as the prefix letters - AB on our example - then maybe choose your wife’s initials (here “CDB”).
But you’re not limited to names and initials! You may want something to match your favourite sport like LBW (cricket), POT or CUE (snooker).
Investor Example - Our client Brian Bird, who called us wanting to upgrade his “B7 BMB” plate, originally bought from us for £399. Choosing “44 BB” at a retail price of more or less £9,000, is he just throwing his money away on vanity? No! In over 20 years at the pinnacle of the registration industry, we have seen that private number plates have been consistently good investments. Those bought at fair market value rarely loose money. Brian is almost guaranteed to at least get his money back should he wish to sell “44 BB” later, and can reasonably expect to make a profit if and when he decides to part with this exclusive mark!Often we can part exchange your original private plate or sell on commission. Commission sales usually raise more, but may take longer. In addition, Brian is able to re-sell “B7 BMB” through us without charge, a standard part of our purchase agreement. Of course he could also choose to retain his original purchase for the future. Whilst his investment continues to mature, Brian can actually use his special number plate, rather than the money being simply stuck in a bank account or shares!
There are many different styles to choose from, and you can make yours individual in many ways for a truly personalised plate!
Most Frequently Asked Questions About Private Number Plates;
Question; How do you get private number plates? Where can I buy private number plates?
Answer; There are actually a few choices depending on how much you would like to spend and which type/style of private number plates you would like. There are many dealers websites on the internet, the dealers who are members with a trade association are the best ones to look for. CarReg are members of all trade bodies and recognised reseller with the DVLA. Be careful if you see a “bargain” from a private seller on Ebay! There are also various auctions like Bonhams which sell special numbers at Goodwood each year. The DVLA hold auctions around the UK and online. Many of the shortest numbers and most desirable registrations have already been issued and sold so will only become available amongst the second hand marketplace.
Question; Can I buy a private plate and not use it?
Answer; Yes, this is now very easy. DVLA created the retention system quite a few years ago. When a number is retained (on a V778 certificate) then it is safe to store away for as many months or years as you wish! Some private number plates are issued but have never actually been on a vehicle. These numbers will be held on a Government V750 certificate, again you can store them safely for as long as you wish.
Question; How much do private number plates cost?
Answer; There are so many different variables which would determine a realistic price for each private number plate. Prices generally start (with CarReg) at £155. This type of number would be a make your own style which are perfect and ideal gifts. Prices rise when you start to look for dateless numbers and names. Names get more expensive the more popular the name and how clear and precise the name is on the plate. Shorter numbers and number one plates also become more expensive the more popular the letters. Single letters with number one (Example; P1) may retail around £1,000,000!
Question; Does a private number plate affect insurance?
Answer; Yes, once the V5C document is issued showing the new number and the new number plates have been fitted then the insured should notify thier insurance company. Normally there is no charge for this, it is not a vehicle modification.
Question; Can you buy a private number plate and use it on a lease car?
Answer; Yes, once you have permission from the lease company. It is advisable to obtain a letter from the company stating that they have no interest in the private number plate in question. If the vehicle gets stolen or involved in a serious accident then the driver or someone else would have to contact the DVLA to retain the number as soon as possible!
Question; Are private number plates good investments?
Answer; Yes, recently private number plates have been considered very similar investments to antiques and works of art. A good example would be ‘7B’ which was once purchased by CarReg in 1995 for around £10,000, we then later, (some five years on) sold it for more than double. The same number today would be on sale for in excess of £250,000!
The possibilities go on forever so for some ideas about how to design the perfect plate you can find you ideal private number plate above.