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Making Money With Private Number Plates

However, that’s not the case today as personal number plates have increased in numbers on our roads as people of all walks of life are enjoying them. After getting the private number plate you want for your car before purchasing it, you will have to provide a nominee name.

another thing about buying number plates is that they can be held indefinitely on certificates but must be renewed annually at a certain fee. You will also need your V5 Logbook, a photocopy of your tax disc and a copy of your MOT if applicable when assigning your registration. After that, all that is left is to the new plates on your vehicle and then you ready to display your new number plate.

And once the number is given or assigned to a vehicle the rights to that registration number then fall to the registered keeper of the vehicle.This means that if you sell a vehicle with private number plates assigned to t the new owner of the vehicle acquires the rights to that registration number completely.

For those who wish to transfer the number plate from car to car you have to complete a DVLA form V317 and include the V5 logbooks, MOT certificates and a small fee payable to DVLA. The new registered keeper will then have full entitlement to the number plate; alternatively, if you are holding the number plate on retention, you can sell the certificate to a willing buyer. To add a nominee name to a retention certificate, the owner must sign Section 1 and provide the nominee name then the certificate must then be sent to the DVLA with a payment.

Another option of selling your private registration plate number is by advertising the number plate while still assigned to your car. Investing in private number plates may seem like a strange way to secure your future, but the rise in the popularity of personalised plates is providing generous returns on initial outlays.

The main selling point of private registration plates is that they are unique and the whole concept of number plates is that there is only one of each. Car registrations containing weak initials such as X or V are cheap number plates to buy however the chances of selling them on again are low, and you might also end up having no sales from them.

But one of the best places to grab private number plates deal is at a DVLA auction. The auctions are held every few months with private number plate dealers offering an auction bidding service online that takes the hassle out of attending the auction yourself, saving the associated costs involved.

The valuations take into account several factors including similar marks on the market, previous selling prices and popularity of the name or initials on the number plate that in the end determine the profit of the sale.

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