Car registration numbers are issued by the Driver and Vehicle Licensing Agency (DVLA) for taxation purposes and enforcing road laws. On today’s roads however the uses of number plates extends past their primary function and are commonly used to personalize vehicles by people all over the country. From happy couples celebrating 50 years of marriage to motor enthusiasts looking to add the finishing touch to their prized set of wheels, private number plates are becoming ever more popular by the day.
Private number plate suppliers offer access to huge databases of car registrations being sold across the country from cherished number plates to the latest 07 registrations. A common misconception when buying private number plates is that you are simply buying the plastic number plates which go on the car. This would make the number plates worth thousands of pound very expensive sheets of plastic indeed! When buying a personal number plate you are in fact purchasing the rights to a particular car registration. Once assigned to a vehicle, the rights to this private registration fall to the registered keeper.
When you sell a vehicle with private number plates assigned to it, the new registered keeper acquires the rights to the registration number. If you wish to retain the rights to the private registration there are two options. Firstly you can transfer the number plate onto another vehicle you own or secondly you can transfer the car registration number onto a V778 Certificate of Entitlement.
Holding a car registration on certificate means that you can retain the rights to the registration without it being assigned to a vehicle. Applicants wishing to use this facility should complete DVLA form V778/1 and include the V5 logbook, MOT (if applicable) and the retention fee of £105 payable to the DVLA with the application. To transfer a number plate from car to car you must complete DVLA form V317 and include the V5 logbooks, MOT certificates (if applicable) and the fee of £80 payable to DVLA.
By selling private number plates you are effectively waiving any rights you have to those particular registration numbers. If you wish to sell your private number plates there are a number of options you can take. Firstly you can sell the vehicle with the car registration still assigned. The new registered keeper will then have full entitlement to the number plate. Alternatively if you are holding the number plate on retention you can sell the certificate to a willing buyer. You will have to have the buyers name added as a nominee if they wish to assign it to their vehicle.
To add a nominee name to retention certificate the owner must sign Section 1 and provide the nominee name. The certificate must then be sent to the DVLA with payment of £25. An updated certificate with the new nominee name will be sent out typically within two weeks. A third option is to sell advertise the number plate whilst still assigned to your car. Once sold the number plate can be transferred vehicle to vehicle via the DVLA.
Selling and buying personal number plates privately can be risky for both the seller and buyer. One of the safest ways to sell private number plates is via a reputable number plate dealer. By doing so both the seller and buyer have the backing of professionals who can act as a middle ground for the exchange of certificates and monies.
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