Private number plates have become sort of an in thing these days. They are no longer purchased just as a status symbol. Instead, personalised number plates are used as a platform of expression, an investment, or a gift. Whatever the reason for buying, the following tips will help prospective buyers make better and more informed decisions.
Buying a private plate may seem like an easy task, but if you go in unprepared, you will likely be overwhelmed by the choices. Worse, you might make a spur of the moment of the decision that has more to do with the last advertisement you saw than what you really want or need.
Establish some ground rules. What are you looking for? A short permutation? A combination which sort of spell out your name or interest? Literal words or symbolic sequences? Spend some time with these questions, and you will definitely emerge with a clearer picture of what you are looking for.
Purchasing a number plate can be as expensive or as cheap as you want. The prices range from several hundred to several hundred thousand pounds. If you go in unprepared, you might be tempted to spend more than you can afford. As such, calculate the exact amount you can afford and are willing to spend. Once you have established budget, you can easily dismiss number plates that cost above your budget. Further, a budget will allow you to focus on number plates which fall inside your comfort zone instead of constantly debating with yourself about how high you can go.
Don’t overspend. Otherwise, an activity which is supposed to be fun will lead to feelings of regret.
Are you content with DVLA’s current number plate format, or do you want to experiment with prefix and suffix formats of the 80s and 90s? Or are you planning on going old school with a cherished plate? Deciding on the format can potentially narrow down your choices to a very manageable level.
DVLA’s auction website offers the largest number of number plates, with 53 million plates and counting. They are also the safest and most reliable platform. However, you can get more attractive number plates from name plate dealers and brokers – but do the options there fall within your budget? And what about the fees, commission and taxes?
Prepare your registration records, log book, proof of identification and other relevant documents in order. On the flip side, prepare a checklist of documents and certificates you will need from sellers, such as form V778, sales contract, etc.
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