NUMBER PLATE INCOME METHODS
Number plates may be profitable – it’s not just a big, fat pose! Personalized number plates are becoming increasingly popular. Many celebrities have them, including Alan Sugar (AMS 1) and Vinnie Jones (100 VJ), but ordinary people like you and me are taking advantage of the trend as well.
In January 2006, the DVLA was given £254,000 in exchange for number plate 51 NGH, and three years later a staggering £352,000 was paid for number plate 1D. These plates are now considerably more valuable than they were at that time.
Why are number plates important?
Number plates are valuable because they retain their worth and increase in value as each one is unique. You’re unlikely to find a buyer for a randomly assigned registration number (that’s the standard reg plates that come with a vehicle). If you buy a short plate number, one that has special meaning or is dateless, on the other hand, you may
The sale of personalized plate numbers has been on the rise for some time, so if you’re clever, you may make money. For the Treasury, last year’s sales of personalized number plates were a record £102 million. According to the DVLA (Driver and Vehicle Licensing Authority), almost 335,000 registrations were sold in 2017, more than
What are the different plates you can buy?
Think of yourself as a buyer when purchasing a number plate to earn money. Keep in mind that your objective is to make money by selling registration plates. Consider:
What is it about that number plate that would make a buyer interested?
Number plates that appear to be words are incredibly popular and are almost certainly a good investment. The number plate VIP 1 was used on Pope John Paul II’s popemobile, which went for £285,000 when it was sold. It’s far from certain you’ll make quite as much as the pope, but number plates like that are an excellent
Alternatively, you may invest in a plate with popular initials.
Many people are prepared to pay a fair amount of money for their initials to be imprinted on their vehicle’s number plates. This is a greater risk since you must hope you find the proper buyer, but it could be worthwhile. Just avoid purchasing a plate with uncommon initials such as X or 4X because this will make it more difficult to
Short number plates are a safe choice.
They are nevertheless popular, however, they are costly to purchase and have a high reserve price at DVLA auctions.
Dateless number plates
The premium phone number is the one that has up to four digits and three letters. However, they are also quite sought-after, but only if you buy them new at a DVLA auction.
It’s vital to remember that because a number plate has an age identifier (such as 62 indicates 2012/13), it can’t be used on vehicles registered earlier than that date. It’s also critical to note that the spacing and letters have not been modified in any way, since this is illegal and could result in a hefty penalty!
It’s also beneficial to understand that offensive number plates will be prohibited. Even if you want to stand out, avoid choosing inappropriate names with sexual connotations, profanity, or odd phrases.
Take care when buying a number plate
Make sure the seller has a genuine V750 certificate of entitlement or V778 retention document, and that it’s signed by the individual whose name is at the top of the certificate. Only people named on one of these documents can assign their car a number plate. If you want to make money off your numbers, be aware there’s an £80 fee if a vendor sells his number plates from his vehicle to yours. You must include this charge in your price if you wish to profit from number plates.
A number plate must be transferred between vehicles if they are both registered with the DVLA, available for inspection, and have valid MOT certificates. Both buyers and sellers must also fill out a V317 form. If you don’t intend to use the number on your vehicle, you’ll have to pay £25 to keep the registration number. It costs £25 to update the nominee on the retention document.
Where can you buy a number plate?
You can purchase personalised registration numbers from the DVLA Personalized Registrations website at any time. The most valuable number plates, on the other hand, are likely to be sold at a DVLA auction, which is held six times a year. Each sale has 1,500 appealing number plates for sale with a reserve price that you may compete for with fellow number plate enthusiasts across the world. Here you’ll discover where and when the next auction will take place.
If you can’t discover the desired number plate on the DVLA’s website, you may contact them directly and make a request. If the number plate is available, it may be offered at a later auction. A large Cherished Number Section with an active community of number plate vendors is also available on eBay, as well as several specialized websites that offer personalized number plates such as National numbers.