How can you sell personalised number plates?
There are many people who are on the lookout for personalised licence plates. They do not necessarily need to feature a proper word: any number or letter combination that can be significant for anyone can be meant as a personalised number plate. Of course, those signifying a car brand in any way or names (especially the three letter ones) are way more expensive.
As you won’t be able to create personalised licence plates in any of the old-age formats, only hope, that one day the one you look for would appear on any site the price of the old number plates, especially those found on old cars which are off road one way of the other, can even be over one million Pounds! This means, this is a very specific and quite a big business! If you have a relative whose vehicle stands in the garage in the past 40 to 50 years yet it’s not declared off road, you can sell the right for someone else to own that particular number plate.
You will need a V750 or V778 document which are both entitlements for the new holders to prove that they can use the bought licence plate for the upcoming 10 years.
In the UK, you can sell your number plate’s right to someone else without much of an issue. This is what makes personalised number plate such a big business. Of course, before each business transaction, we would like you to get in touch with DVLA to get more information on all the processes.
If you have a personalised number plate you bought earlier, it will be easier to sell. What you need to do is simply, to put it on licenced DVLA dealers’ websites, who will from then on offer it on their websites, you can also try selling it individually, and although it’s much bigger a job or you can also try selling it through an auction. The easiest and most effortless way is to sell your previous personalised number plate on a dealer’s website.
The dealer will charge their commission otherwise the price is all yours when the number plate is purchased.
If you are really in a hurry, you can also walk in to most dealers’ office and providing you hold all the necessary paperwork you can also sell your number plate for cash. This is however the type of transaction which is to bring you the least profit.
If you are in the possession of a rarer old number plate, need the money but don’t necessarily want to sell it just yet, you can still earn some money thanks to some of the dealers who are ready to provide you with a pawn loan. What’s necessary for this is for the rarity level of the letter-number combination to make the number plate worth between 5000 to 100.000 thousand GPB at the minimum. If it’s the case, you can get money on the very same day and can get your number plate back if you pay the loan back duly on time.