Lifestyle

A Guide to Gifting, Assigning or Selling a Private Number Plate

So, you’re interested in buying a private number plate? Or maybe you have one and you want to sell it on? Or maybe even give it to a loved one? This post will give you all of the information you need to know in order to gift, assign or sell your private number plate.

There are several procedures you need to go through when passing on a private number plate. If you need to know the details on what to do then read on…

1. Selling your number plate

Before you even consider selling your plate, it’s a good idea to find out how much your plate is actually worth, that way you can decide whether it’s worth the hassle of selling, or it’s best to retain the plate until it’s worth more, or you can place it on another vehicle.

Most private dealers will be able to give you a quote online. NewReg.co.uk will give you a free quote online if you enter the details of your registration plate and you’ll get the best deal possible. Once you’ve received a quote then this is the price you will receive once the dealership finds a buyer for your plate. It’s a fairly simple process that doesn’t require too much work.

You can opt to sell the number plate yourself, and although it is quite easy to do so, often going through a dealer is a better option as there is less paperwork, you don’t have to search for the buyers and you often aren’t charged by online dealerships.

2. What happens next?

Once you have a confirmed buyer for your plate, this is where the transfer process can begin. If you have gone through a dealer, then you will get written confirmation that the plate has been sold and they will request your V5C Registration Certificate in order to begin the transfer. If your registration is on a certificate then you will be asked for your V778 (Retention Certificate) or V750 (Certificate of Entitlement).

As long as you use a reputable dealer, they will check that the documents and number plate are all within the DVLA standards before selling it onto the buyer.

3. Assigning the plate to someone else

If you don’t want to sell your number plate, but instead you want to assign it to someone else, possibly as a gift, then it is possible to do so. This can be done through an online application through the DVLA website or via post.

If you choose to apply online, then you will need to visit the website and get any information necessary from the V5C (logbook) and the V778 or V750. From here it’s a simple process to fill out the application and submit.

Instead of applying online, you also have the option to send your application via post. You will have to fill out sections 1 and 2 from the V778 or V750 forms and sign them. The DVLA will also need the V5C of the vehicle that you want to put the number plate on.

Don’t forget, you will have to ensure that the vehicle the plate is being transferred to has a valid MOT, has been taxed and is registered with the DVLA, otherwise the transfer is not possible.

4. Selling your plate in a hurry

If you really need to get rid of the number plate fast then there are other options for you. It is possible to contact a dealer directly and ask them if they would like to buy the number plate as stock in return for quick cash.

However, if you know your plate is worth a lot but you aren’t ready to sell it then pawning it off may be the best option for you. Once you pay off the loan you can get the number plate straight back and keep it until you decide to sell.

*This is a collaborative post*

You Might Also Like...

No Comments

    Leave a Reply

    This site uses Akismet to reduce spam. Learn how your comment data is processed.