When you buy a new car, you will also automatically be granted with a brand new number plate. Even when you buy a second hand car, it will come with an existing number plate. So where is the logic in spending several hundred or thousand pounds to get a personalised number plate? Are there any tangible benefits to buy private plates beyond plain vanity and narcissism? Actually, there are good and legitimate reasons why you should buy private plate.
1. Expression of Individuality
Not, this is not the same as being vain. We express our individuality in many ways in our life. Hair style, fashionable attire, jewellery, smartphones and gadgets, cars – the list goes on. So why should number plates be any different? Number plates can convey aspects of our personality that sets us apart from the crowd. They can also be used to announce our beliefs or affiliations. For instance, if you’re a Liverpool fan, how cool would it be to own a personalised plate with LFC or KOP? For goodness sake, OO14 LFC (14 is Liverpool’s captain Jordan Henderson’s shirt number) is available for just £388!
2. An Investment Tool
In 2008, car designer Afzal Kahn purchased ‘F1’ for £440,000. By 2013, he was offered a cool £6 million for the plate. And in 2018, Kahn has listed the plate for sale at an incredible £14.7 million! Of course, this is a high-end and extremely unique example. However, generally speaking, number plates is a great investment vehicle. There is a limited supply of plates (especially quality ones) for a captive market until 2050 (when DVLA estimates the introduction of a new plate format). You never have to worry about oversupply or a market bubble the way property investors and speculators always are. The best part is, the entry cost can start at just several hundred pounds. The risk to reward ratio is phenomenally high; there is no downside here, unless you buy a series of random, unpronounceable and lengthy plates.
3. It’s The Perfect Gift!
The best gifts are those that come from the heart and last a lifetime. Number plates can fill those requirements very easily. You only need to spend time to find a relevant alphanumeric sequence, such as birthdate, address, hobbies, etc. of the recipient, and he or she will treasure the gift for years. After all, your gift will be seen every time the recipient walks up to the car. Imagine giving a personalised plate for your child’s graduation, and knowing that he or she will be thinking of you each morning and afternoon?
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