If you have ever considered whether or not a personalised number plate is a good investment the short answer would be yes. If you choose your plate wisely, factor in how you will sell it on when you no longer require it or when you want to sell your car and opt for an attractive design you could very well end up increasing the value of your vehicle, therefore, making the plate a great investment piece. Let’s take a look at how to go about this and what you will need to consider when buying personalised number plates as investments…
Personalised Number Plates
What’s In A Name?
Quite a bit, actually. If you want to purchase a personalised plate that will seal your investment in the future then you will need to give your chosen name a long hard think. If you’d like to make money on it somewhere down the line then a number plate with your initials may not be relevant to a lot of people. The same goes for nicknames or something a bit cheesy. However, if you have quite a common name or name it after the car or a place your plate will most likely be more valuable. Think about how it would be perceived if your car was ever placed as an ad, what would draw attention and what would put a potential buyer off.
What To Choose
The art of ensuring that your number plate will be an investment is finding plates that will almost certainly increase in value over time. The most popular are those that contain common first names (as mentioned above) as well as those with few digits, such as VIP 1. Another way of choosing a plate is going for numbers that look like letters and combine these into your wording, for example, MAG1C, J4YOU, WE11 JEL or D4DS TAXI.
Only Buy Legal Number Plates
Here in the UK, vehicle number plates must conform to strict regulations set out by the DVLA with regard to the material used, the font and spacing. They may only be bought from a licenced supplier such as CarReg Personalised Number Plates. Do you research prior to paying out for a pricey plate because if they aren’t legal you could end up paying out even more by receiving a fine of up to £1,000. You must always apply to the DVLA to register the plates to your chosen car.
Giving a New Car a Spin
A new car will always draw the eye but if you wanted to go one step further, having a sleek number plate designed will give it that extra wow factor. A personal car registration is 100% unique and will effortlessly set your car apart from others. This can be a very useful tool if when you come to sell it on.
Improving an Older Car
You may associate a personalised number plate with a newer and sleek car but it can work wonders for even a very old car. Although you won’t be able to change a car’s age, you can give it a new lease of life, add a bit of fun and draw new attention to it with a plate designed just for your pride and joy. It is certainly far less expensive than paying out for a brand new car but it will just add that something new to get excited about. It should also help with its resell value if you ever do decide to part ways.
Number Plates For Business
Another way that a personalised number plate can be a good investment is by helping to build your business. They are an excellent marketing tool as they are extremely visible and easily spotted especially if you have a mobile job such a builder, dog walker, mobile hairdresser etc. By making your plate as memorable as possible you should be able to drum up more business.
Selling The Plate On
If you wanted to sell your plate on and not the car, this is also completely doable, in fact, there is a huge market for personalised number plates and if you have a desirable one, you could most certainly make an investment on it.
As you can see, a personalised number plate is a great route to go down both for aesthetic reasons and for future investments.
*This is a collaborative post. For further information please refer to my disclosure page.
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