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Sunday, September 30, 2012
Listed below are some points you ought to consider prior to jumping in:
There's no guarantee that private reg plates will stay popular. Just like all investments, there can be no guarantee that the number plate will carry on increasing in value and therefore, purchasing private reg plates is a risk. But, no good investment is without risks.
Plates are a luxury purchase and their worth could be affected by economic conditions. The sale price may be affected, and it could take much longer to sell off. Nevertheless, in a much more favourable economic climate, private reg plates which had been bought for less money during a recession may turn out to be a good investment.
You'll find an enormous number of private reg plates to buy at any time and you need to understand the reality that you will be competing with thousands of other private reg plates for sale. Therefore, you will have to price your private number plate well compared to the other similar plates.
Your plate could possibly decrease in value in the short term, however this must not put you off from thinking about plates as a good form of investment. Based upon the way in which you buy your registration number, its price may possibly decrease to begin with. It could take several years to recover before you start to notice a profit. This is usually the situation if you buy via a broker, who's going to add a premium to cover the commission fees.
Personalised Number Plates can take a bit of time to sell off and you ought to take this into account when deciding on an investment. A private registration will be an asset which generally cannot be turned into hard cash quickly. Some plates could be sold on to a dealer, but you will receive a lower price. Otherwise, be prepared to wait for several months if you don't wish to lose out. Normally, this applies when your registration plate is priced at over £500.
A Driver and Vehicle Licensing Agency transfer fee will be applicable to your registration plate and this may vary from vehicle to vehicle. So that you can hold onto the private plates for more than a year, an annual renewal fee of £25 is going to be due, so you need to bear this in mind in your calculations.
Having taken into account the things mentioned above, if you decide that purchasing private plates is perfect for you, you definitely should move quickly, as a recession is a good time for these sort of investments. Talk to a reputable company in order to get the help you will need to purchase private reg plates as an investment.