Private Number Plates – What You Need To Know When Selling Your Car

Authored on on 16-08-2021 by Lu Etchells

When it comes to selling your car, there are a number of things you need to consider, from how much your car is worth (and how much you need to clear outstanding finance) to what is the best method for selling.  If you have a personalised private number plate, then you’ll also need to consider what to do with it.

 

Generally speaking, you have three options.  Read through our guide below to decide which is the best route for you to take.

 

#1 Sell the number plate with the vehicle

 

Obviously, some private number plates are deeply personal.  They may reflect your initials, a nickname, postcode or special date.   As such, they’re unlikely to appeal to a wide variety of individuals and therefore, the resale value is minimal.

 

However, some number plates may still appeal because they’re smaller than the standard issued Registration Number.  Equally, you just never know if your potential buyer will also have the initials ABQ.  It can be a small world after all.

 

If your potential buyer is interested in purchasing your number plate along with the car, then there is nothing you need to do.  All you need to decide is whether you want to charge anything additionally for the plate itself.

 

#2 Transfer your plate to a new vehicle

 

If you still want to use your personalised number plate, then chances are you’re going to want to assign it to the next vehicle you buy.  This is a simple process; however, it’s something you need to arrange before you complete the sale of your car.

 

You will need to contact the DVLA and complete an application with them, which can be done online. In order to complete this, you will need the vehicle’s current Log Book (V5C) and to pay a fee of £80.00.

 

In return, you will be provided with an updated V5C for the vehicle, as well as a V778 retention document.  You will need both of these documents in order to sell the vehicle on, and retain your rights to the number plate.  Please be aware that you will not be able to sell your vehicle unless the V5C shows the correct number plate for the vehicle.  If you do not do this prior to listing your car for sale, there will be a delay in the completion of your transaction.

 

You can then make an application to transfer the number plate to any vehicle of your choice – it may be that you have bought a new car and want to continue using the plate, or you want to gift it to someone else to use instead.

 

#3 Keeping the plate for later

 

Alternatively, you may decide that you want to sell your car but retain the number plate for later use.  It may be that you are not yet ready to buy a new car, or you are still deciding whether to sell the plate privately.

 

Either way, you will need to arrange for the number plate to be removed from your current vehicle, prior to sale (as above).  You can then contact a broker to sell your number plate, as they will be in the best position to accurately price it, as well as having access to buyers.

 

 

Worth remembering …

When changing the number plate on your vehicle, it’s worth remembering to update:

  • Your insurance provider
  • Any accounts where your Reg Number is used for automatic payments (e.g. the Congestion Charge, Low Emission Zone Charge, Dart Charge etc)

 

 

Here at iCashCars we buy cars of any make and model, as well as those with private number plates.  If you have any questions, or want to find out how much your vehicle may be worth, please get in touch.

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