Cars

What You Need to Know About Personalized License Plates

What You Need to Know About Personalized License Plates

Developing a unique style of driving and personal relationship with their vehicles is normal for motorists. Whether it’s motorcycles or cars, owners have a deep need to personalize them; with a personalized number plate being one of the best ways to do this.

Using a private license plate to personalize your vehicle comes with so many advantages. Depending on who you are, you might like the feeling of having something unique on the vehicle that you love so much, others are drawn to the originality of this fashion statement while others like private plates simply because they are a symbol of status. You can get really creative with your choice for a personalized plate. Show Plates World offers some great looking 4d number plates uk with an amazing gloss finish.

How Much Do Private Plates Cost? 

The cost is the first thing that most people want to know when it comes to getting private car plates. You will be happy to know that the cost of owning a private license plate can be treated as an investment on your side. You can pay up to a hundred or more pounds for private car plates. To put things into context, the DVLA received 222,000 pounds for a license plate “IG 1” in one of their auctions. “1 D” which sold for more than 285,000 back in 2009 and “25 0” which racked in 400,000 back in 2014 make up two of the most expensive registration plates in the United Kingdom.

What Can You Expect to Pay for Private Plates?

Why would a person want to pay so much to own a personalized license plate like “IG 1”? For starters, Ian Guest, the individual that paid for it, must have thought it was quite special. On top of that, in the DVLA registration, this is the last plate denoted by two letters and a single number.

However, there’s still something to smile about. The cost of private number plates doesn’t have to be so high. The final amount of money you end up paying is dependent on a variety of factors. These include the existence of similar plates, if any, the level of interest in the plate, the previous owner, location and the amount of time it has been on the market. When you start shopping for a private plate, you will have to consider all of these important factors. Basically, you have to consider such factors regardless of the market you are operating in.

Over time, the value of a private plate that is available in low supply but associated with high demand will obviously rise. However, you can find other affordable but similar options on the market as well; case in point, Northern Irish private plates which can be used on vehicles on the mainland legally. You can pay as low as 65 pounds, inclusive of VAT and all applicable transfer fees, for such options – which are not only in high supply but also cheap to buy and use.

You might be wondering, why the lower cost? The term “cover plates” is used in reference to many of the plates issued in Northern Ireland. They come at a lower cost and are issued by the government. A brand new plate is issued, later on, after the current reg mark is sold on as a private license plate. Part of the reason why there are so many private number plates on the market is that this process can be repeated over and over again.

On the other hand, there are the costlier private number plates simply because they are in limited supply. The term “cherished plates” is used to refer to some types of plates. These attract high prices as they are considered to be antiques as they have been in existence for an extended period of time. “R2 YAN” is a great plate for any individual with a matching name and is a great example of a cherished plate. For customers willing and able to pay a high price, this plate is highly desirable.

Owning A Private Plate, The Specific Price 

It is time to look at how much it costs to actually own a private plate, now that you have a good understanding of what it takes to buy one. This is an entirely different topic. Fortunately, the costs involved are minimal.

Considered as a façade, a private plate is actually not a thing in itself. Once it is bought, a private license plate does not belong to a person, as many people assume, albeit incorrectly, it actually belongs to the car it is registered to. As long as the plate remains on the car it is registered to, no annual fees are charged. There are no actual fees to be paid for owning the plate, even though a tax or MOT will have to be paid at a given point.

Driver And Vehicle Licensing Agency Costs

To transfer, change or retain vehicle license plate registration certificates, the DVLA private registrations apply a transfer charge. When making your decision on owning a private license plate, you will need to factor in this cost.

Registration Transfer from One Vehicle to Another:

You will have to make a payment, online or through the mail, of 80 dollars, if you want to transfer registration from one vehicle to another. Any supporting documentation, including the V5C, should accompany the payment which must be made to the Driver and Vehicle Licensing Agency.

To ensure that the transfer goes through, both of the vehicles involved in this process must satisfy all the necessary requirements, including up-to-date MOT and tax records.

What Is Covered by The S80 Fee?

A new license plate for the vehicle (donor vehicle) that is having its plate transferred to another – the buyer. With the donor vehicle now missing a plate, the DVLA will issue a brand new standard plate as a replacement. In most cases, the initial plate that the vehicle was registered will be used.

Traditionally, the transfer costs as well as DVLA fees involved in the license plate transfer process are normally covered by the buyer. A private license plate dealer is the go between in these transactions. In addition to handling the submission of all the necessary documentation, the dealer also holds on to the buyer’s money until the point where the transfer goes through before releasing it to the seller – initial owner.

The following trade organizations are in charge of regulating plate dealers:

– Cherished Numbers Guild and Institute of Registration Agents & Dealers (MIRAD)

– Retail Motor Industry Federation (RMI)

– Cherished Numbers Dealers Association (CNDA)

When looking to transfer a private vehicle license plate, it is important to make sure that you only deal with dealers licensed by one of these organizations.

You will need to apply for a retention certificate – V778 – if you wish to retain a registration that has been taken off the vehicle it belongs to. Your vehicle must satisfy specific requirements, and you can complete this process through the mail or online. You will be issued with a certificate that allows you to retain the registration and use it on a new car within a decade, after completing the process and paying an $80 fee. When the expiry of this period approaches, you will be notified.

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