Private number plates are perfect for providing a sense of individualism to your car on the roads. Everyone wants their car to be distinct, and there aren’t many cheaper or better alternatives to purchasing a private number plate.
Drivers who want to make their car stand out with a personalised registration plate can expect to pay top dollar for the most popular designs available in the UK. However, this has led many to ask the question, are private plates worth it?
Research found that the most expensive number plate ever sold in the UK was purchased in 2014 by classic car dealer and collector, John Collins, for £518,000. With prices soaring much higher around the world, it can sometimes be seen as an unnecessary cost for something like a number plate.
That’s why we’ve put together this article explaining everything there is to know about private plates, how much they’re worth and if they’re a good investment for the future. Keep reading to find out all there is to know about private plates, what they are and how much they’re worth.
Is It Worth Having A Private Plate?
A private plate can be a perfect way to personalise your vehicle and show a bit of character out on the roads. Instead of opting for a different number and letter combination, you can change the way that your plate appears to other drivers, making it stand out from the crowd. But besides the cosmetic benefits, are private plates actually worth it?
Research has found that there are over 45 million custom number plates in the UK – more than two for every three people in the country. With so many people opting to change their standard plate for something different, there must be substantial reasons to decide to get a private plate.
One of the reasons people choose to get a private plate is because they offer better quality and design than standard issued ones. Most come with a durable acrylic base plate that can then be customised to fit the customer’s specifications and needs, including a high0shine resin coating to really make the plate stand out. This greater quality can help to prevent consumer spending on replacement plates as they are much more durable, flexible and lasting than standard plastic plates.
Many also choose private plates for their safety. Unlike normal plates, private ones can provide improved visibility of your car, increased durability (according to the law) and easier-read numbers for identification. Improvements such as these can help you to improve other drivers’ awareness of you on the roads and make sure that you are visible at all times, which can greatly reduce the risk of accidents and damage to you or your car. Research has found that there are 22,000 serious car injuries a year, or 60 a day on average – with so many accidents occurring on British roads, it may be valuable to make yourself as big and obvious a presence as possible through the use of a private plate.
The most obvious benefit, although briefly mentioned, is the cosmetic one. However, you must be especially careful when making cosmetic changes to your vehicle – we found that making a vehicle change that is not legal could see you face a £1000 fine and points on your driving licence. Changing the feeling, texture or view of your number plate can be a trendy and unique adaptation to your vehicle that can impress friends, family and colleagues on a daily basis.
Lastly, a private plate can be a great financial investment for the future; Brits love personalised registrations and depending on the actual plate, it could be a highly lucrative investment. Others may value your plate significantly as it may align with them or traits of their life, which could influence the value others see in it. This could provide the chance for the plates to be sold at a great markup to what you purchased them for.
Do Registration Plates Go Up In Value?
If you are looking for a shiny new upgrade to your car, you’ve inevitably had a look at 3D and 4D plates. These innovative and unique upgrades to your standard plate are the perfect way to differentiate your car from others on the roads, helping you to stand out in the crowds with your own personal flair. As well as these you can get your own private number plate registrations, which are equally as valuable and beautiful. However, with the people of the UK spending almost £4000 per year just to run their car, justifying an upgrade such as these can be hard.
Luckily for you, private number plate registrations have the chance to increase in value over time, as well as 3D and 4D designs.
4D plates are made to be more durable and visible than a standard plate, created by applying 3D acrylic characters to standard number plates and surrounding them with 4D gel for the premium block finish. Made to order at a high quality, these plates can be especially unique and desired amongst car fanatics who want a cool edge to their car.
Depending on the registration, it can fetch a considerable amount of money for its quality and general sentimental value. This is because if a number plate is designed in a way that appeals to somebody’s life, they might be more likely to spend more to acquire it. Furthermore, if it is made to a premium quality, the value that its worth also increases as it is seen as more durable.
Alternatively, some choose to get registration plates due to their rarity. Unique or special plates can also earn you much more than you paid if you hold onto them for a while – the exclusivity attached can also urge buyers to pay a larger fee to guarantee owning a plate.
Due to the nature of the design and legal aspects involved, 4D number plates can only be made by approved DVLA manufacturers. This helps to make them especially rare and in some cases, one-of-a-kind. Registrations such as these can provide a significant return on investment for the future, which can make it much easier to justify spending for one of them.
Overall, they tend to go up in value. This can be a strong incentive for car owners to get a private plate as an investment, which can help them to finance a future vehicle or asset if it becomes desirable to the right person. However, it is important to note that not all private registrations become valuable – it always depends on the type of plate and what it represents. Therefore, for most, it can be seen as a gamble – but one that can pay off extremely if done correctly.
Does A Private Number Plate Affect Insurance?
It’s easy to assume that changing your number plate is a cosmetic modification to your care, which could affect your insurance. However, that’s not the case.
Because you are required by law to display a registration mark on your vehicle, changing your number plate is merely adhering to the law. This prevents your insurance from charging you a premium for modifying your care, as it is a necessity rather than customisation alone.
Although this will save you a lot of money in the short term, it won’t make the procedure completely free – you may still have to pay your insurance an admin fee for reporting a change in registration on the vehicle because they have to update their records, although this is completely at the discretion of your insurance provider.
There is a range of effective measures you can take to prevent it from influencing your insurance. The most effective option is to challenge any premium or fees as the change itself is minimum and you are not modifying anything relevant to your policy or vehicle. By law, insurance admin fees must be considered ‘reasonable’, and you can complain to the Financial Ombudsman Service if you feel this is not the case.
If you fail to tell your insurance at all, they could end up insuring the wrong car on the road. This would lead you with no coverage and could make changing your insurance much more difficult in the future. Furthermore, if you were to get into an accident, it would significantly complicate matters as technically the number plate you are using is not covered by your insurance.
Conclusion – Are private plates worth it?
We hope that you’ve found this article both helpful and entertaining and that we answered the question “are private plates worth it?” to your liking. For more content like this, check out the other articles on our blog page, or contact a member of our team for more help.
Here at Bespoke Plates, we strive to provide high-quality products and services to all of our customers and aim to continue to do so in the future. Why not leave a review on our site and let us know what you think?
