Determining a number plate’s value in the UK could be difficult since every plate is unique. Personalised number plate owners often ask car enthusiasts, how much is my number plate worth? Or where can I get the correct number plate valuation?
Sadly, there is no formula or trick to help you find the worth of your private number plate. However, there are several steps you can take to know the potential value of your number plate. Once you have numbers in your mind, it is easy to sell private plates for the best prices.
If you plan on selling your private plate, keep reading this article to find the steps to identify the actual worth of your personalised plate and factors that may affect the value of your reg. After that, you can decide how much you should sell your customised plate. Read on for more deets on number plate valuation!
What Type of Private Number Plate Do You Own?
The type of number plate you have affects the number plate valuation. There are five different types of number plates in the United Kingdom. Let’s delve deep to find out the value of each private plate.
New Style/Current
Example of New Style Number Plate: -
Available to buy directly from DVLA, New Style/Current number plates are the cheapest ones. There are several alternatives available for each plate. Thus, the value of these plates is always down. In addition, the restrictive structure doesn’t attract many people to it, which is a reason for its low prices.
New-style number plates generally contain seven characters, making them look less personalised. Also, spelling a name or word on the new style number plate is challenging. However, there are still some attractive and exciting combinations that one can try, for instance, CRO5 TON and MY22 CAR.
Irish
Example of an Irish Number Plate:-
Irish number plates do not have a date attached to them. Hence, they are a perfect choice for disguising the age of a vehicle. Irish number plates generally include characters from “I” or “Z,” which could be more challenging to spell. These plates are one of the cheapest options in the market.
Prefix
Example of Prefix Number Plate: -
It is the most common type of private number plate you can see on the roads of the UK. Millions of Prefix number plates are available in the market, valuing the limit of number plates. However, plates with fewer digits are gaining value in today’s market since there are fewer of them available to buy.
Suffix
Example of Suffix Number Plate: -
If you notice, these plates look extraordinary compared to prefix number plates. Suffix number plates have a higher value than prefix number plates since they’re available only on auctions of DVLA or in the second-hand market. The added benefit of these plates is they can be assigned to classic vehicles. In short, suffix number plates have a higher value than prefix number plates.
Dateless
Example of Dateless Number Plate: -
Dateless number plates have no date of issue attached to them. They can be assigned to vehicles of any age and are an ideal option to hide a vehicle’s age. Dateless number plates tend to have a higher value, which varies depending on the number of digits it contains. Moreover, dateless number plates with the number 1 and a few numbers and letters have the highest value in the UK.
How Much is Your Number Plate Worth?
From the above section of this article, the value of each type of private number plate might be apparent to you. So, what kind of plate do you own? Are you able to decide its value? If not, nothing is worth worrying about; you can visit some websites that offer FREE number plate valuation and find the worth of your private number plate.
Suppose you have found the correct value for your number plate; how would you sell it?
Sell Private Plate with These 5 Steps
Here are the steps that can help you sell your private plate successfully; let’s take a look at them: -
- Check the documents to confirm if your private plate is transferable and if the vehicle it is assigned to is registered to your name.
- If your private plate is eligible to be sold, you need a number plate valuation, and then you can advertise it in the local paper, eBay, or Gumtree.
- Be wary of scam artists since one minor mistake can run you into legal issues.
- Mitigate some stress by associating with a number plate-selling website like Newreg.co.uk. These platforms can help you sell your private number plate with no hassle.
The Bottom Line
Finding the correct value of your private number plate in the UK could be cumbersome since every plate has a different meaning and is unique. However, by taking a few steps, researching, and putting in some effort, you can get the exact number plate valuation of your personalised number plate. Also, you can give private number plate-selling websites a spin; their services are worth every penny. Thanks for reading!
This article was originally published on Medium.com: A Comprehensive Guide for Number Plate Valuation
