The Motive for People Investing In Private Registration Plates
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The Motive for People Investing In Private Registration Plates

The Motive for People Investing In Private Registration Plates

The DVLA (Driver and Vehicle Licensing Agency) is reported to have earned around £118 million in 2020, through the sale of private registration plates. And this revenue figure is increasing year on year with the equivalent income from the sale of private registrations having been only £60 million in 2013. With every passing year, the demand for private number plates is increasing!

So what draws the attention of people with regard to private registration plates? Why are people willing to invest hefty sums of money for a number plate? It is apparent that a majority of people think about replacing the standard license plates issued to their vehicle at first registration, at some point. Some vehicle owners are driven by their desire to upgrade their car’s appeal whilst some are looking to market themselves or their business through the use of a personalised registration plate.

The demand for private registration plates has been driven in part by people wanting to be recognised in a world of standardisation and normalisation. For many who are new to the concept there will be a few questions to which they will want answers. This article will provide answers to questions that will help you understand the motives for people investing in private registration plates.

Your Car’s Age is No Longer Public!

The standard registration plates that are issued to your vehicle combine letters and numbers in a specific combination. These unique identifiers follow a system that allows anyone to identify the year of your vehicle. In the UK, formats where the age of the vehicle was first identified were suffix style registration plates, subsequently replaced by prefix registration plates in 1983, and subsequently replaced by new style registration plates in 2001.

People who invest in expensive luxury cars do not want to alter the visual appeal of the vehicle. Expensive luxury cars always look wonderful, even when they are old! Many people that own luxury vehicles that are not current want to hide the age of their vehicle and so they will invest in a dateless registration plate. This will ensure the impression that people have of their vehicle will remain intact.

These same people will also want to ensure the look of their vehicle remains unchanged without adversely impacting the quality of the paintwork, the wheels, the vehicle’s interior. A private registration plate customises their vehicle without impacting the authenticity of their vehicle.

It is much better to drive people’s attention towards a unique private registration plate that hides the age of the vehicle whilst not adversely impacting the vehicle’s authenticity in anyway.

A Private Number is not just a Fashion, it is an Investment!

Just like property and gold, private registration plates also provide an investment opportunity. The majority of personalized numbers gain value with the passing of time. Historical prices tell us that the majority of private plates have gained value over time. The rate of value increase is so marked that people are willing to invest huge sums of money in private registration plates with the balance of risk and reward more favourable than investment bonds, equities, and other more traditional forms of investment.

Even if you are not into the fashion of private plates, it remains important to consider them as an investment opportunity. You don’t even have to display the plate on your vehicle as you can hold them on a retention document purely for investment purposes. The retention document is valid for 10 years and there are no costs associated with renewal of the document which means there are no ongoing costs associated with the investment. You should always make an informed decision when investing in private registration plates and we would strongly recommend that you seek advice on their estimated value through a trusted and reputable broker.

Install Uniqueness on your Vehicle!

You have just bought a vintage convertible at a pre-owned car showroom! Now, you want to spend money on its refurbishment and some performance improvement tweaks. But what’s more important is to make it look special. You should therefore consider adding a unique, and distinctive private registration plate

Every private registration plate is 100% unique! It means that the number plate you install on your car will be the only one with that distinctive combination of letters and numbers. You can feature your name or your profession or the model of your vehicle with private plates. Give your car that head-turning accessory with a set of private plates. It is within your gift to be creative and to be investment savvy.

You can take your name, your initials, your birth date, or anything that defines you! If you have more than one car, you can also sequence the numbers on your private plates. For example you can choose your name to be on your plate, followed by the number ‘1’ for your first car. For the second car you can repeat your name but combine this with the number 2. It will be an impressive combination and you will no doubt be admired for matching plates once they are displayed on your vehicles.

Conclusion

So, it is clear that private registration plates are not just a luxury item as they are also a worthy investment. We believe this article has covered the key areas that attract people into making an investment in private registration plates. We hope the motive for people buying private number plates has been made clear to the readers of this article!

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