Keep up to date with the latest news and stories within the personalised number plate world.
People invest in many different things for many different reasons – you may invest in a business, in shares, maybe in wine or art or hundreds of other items that will gain value over time. You may not, however, have applied the same thinking to your car, and in particular, your car number plates.
Personalised (or ‘cherished’) number plates can be a great gift, but – depending on the registration – they can also be a brilliant investment, if you take the time to understand the market.
What do you need to know?
First thing’s first: you need to be aware of the number plate market and the values of certain number plates. Research is key; like in any industry, you won’t be able to make good investment decisions if you’re not armed with the proper knowledge.
As a rule, the clearer the word on the number plate, the more value it will have (obscure number and letter combinations that only have significant meaning to you won’t really help you when you come to try and sell it on). Very old or short registrations such as B1 will be extremely valuable. It’s a good idea to invest in vehicle specific registrations, as there will always be demand for those from drivers of similar cars; number plates including the letters BMW, for example, are a good bet. Your research will tell you which plates have been sold for high prices in recent years, and if you see a trend appearing, it’ll be a good idea to go along with it.
When deciding which plates to buy – once you’ve done your research – make sure that you take the following things into account: you’ll need to work out your budget, and stick to it. It can be tempting when you come across a highly sought-after registration to buy it immediately, but make sure you can afford it. There’s no use buying plates for investment purposes when the initial cost could put you in debt. Also keep in mind that when you come to sell, there will be fees to retain and transfer the registration.
Buying Your Private Number Plates
Whether or not you want to buy a number plate for an investment, private registrations make great gifts – whether you’re treating a friend, family member, or yourself. They allow you to stand out from the crowd, and can even be great promotional tools if you run your own business or are embarking on a career that you want everyone to know about. There are several different ways you can go about purchasing personalised plates, but the easiest way is to start looking on the internet right now (after all, if you’re reading this blog post, you’re already online and up and running). Plate Hunter is just one of many trustworthy websites that have a wide range of personalised plates, cherished plates, DVLA plates, cheap dateless plates, and more, whether you want to buy one straightaway or just browse to see what’s out there. If you keep in mind the tips in this post, you just may come away with a great investment for the future.