Why buying a private number plate in 2022 is a smart move
Last updated: 13 April 2022
Purchasing a private plate is often a decision made by our customers to add a personal touch to a new car or to add some additional branding for your business, however some often overlook the possibility that the private registration they are purchasing could be worth more in future or how the demand for a specific combination of numbers/letters may increase due to many different factors that only customers with a long term view are able to take advantage of.
This article aims to help you as potential buyer identify things in the broader economy and overall market that could improve your chances of both finding and choosing the right registrations that may gain value in future.
Inflation/Assets that appreciate in value against currency
In recent years due to government spending and large scale printing of money (often referred to a Quantitative Easing), caused by the recent health situation and its impact on the economy has over time devalued the value of currency. Many countries including the UK have since increased the money supply from 20-40% since 2020, this has caused the value of the British Pound to lose purchasing power against assets.
Even though this is a negative thing for the general economy and purchasing of essentials and utilities this is good for those who are holding assets, especially ones that have the potential to increase in value over time, in addition to the de-valuation of the currency.
Purchasing a private registration and simply holding it for a long period of time would mean that its value would increase relative to the pound, however number plates also have other factors that could mean it will gain additional value over the coming years based on the type of plate and combination of numbers/letters, see below for more.
Popular combinations for the coming decade
Twice a year new car registrations are released both in March and September, for example in 2022 this includes (22) plate registrations in March (HA22 YLT,BA22 YSS etc) and (72) plate registrations in September. These releases of the newstyle registrations are well known in the industry, however the one aspect many potential buyers do not take into consideration when looking to purchase a private reg is how many of a given year or combination of numbers/letters will be available in the coming years.
In recent years the release of (21) which can be interpreted as RL or RI and (22) which can be interpreted as RR or LL, these particular combinations are very popular matches for forenames and surnames for example (CA21) for CARL or (XX21 CKY) for RICKY, (HA21 SON) HARRISON or (BA22 YWS) for BARRY, these double letter and combinations that include both continent and vowels can provide many possibilities for registration matches and ideas.
Being able to spot these potential swaps and how these new numbers can be interpreted as letters for both forenames and surnames can give you an edge and the ability to purchase these registrations when they first become available to the market.
Looking to the future the next issues some of the upcoming letter combinations which can be used for names could be 72 (LR or TR), 23 (RE or LE), 73 (LE or TE), 24 (RA or LA), 74 (TA or LA)
Car sales and knowing how to read the market
Due to the recent issues in the economy and supply chains this has also caused problems with the new car market, in many circumstances manufacturers have stopped producing new cars due to issues with microchip shortages or staffing issues. Overall this has resulted in used car values and sales increasing over the past 2 years.
Looking at this situation this means that more potential buyers of vehicles will be choosing a used card as apposed to a new one, meaning that demand for the new number plate releases could decrease for the present and future releases and customers will be looking to purchase registrations from previous years.
This would most certainly be the case due to the fact that older cars are able to accommodate a wider selection of registration new cars are often restricted to plates that were released in March or September of the current year and are unable to use plates from previous years (unless they are of the dateless class of registration).
This circumstance could lead to plates from the last 3, 4, 5 and 6 years in the ranges of (17/67,18/68,19/69,20/70,21/71) becoming more popular with potential buyers, so would be good to look out for ones within these years.
How do I buy a private plate?
We can assist you with purchasing your next personalised registration, some customers know what they are looking for and just simply need guidance with the purchasing process, for this we offer payment via credit/debit card as well as the option to spread the cost monthly over 12, 24 or 36 months with our finance options.
Other customers are looking to purchase but are not aware of the many combinations or need help with what is available and how different types of registration can only be applied to specific vehicles, our team is on hand to help with all the difficult questions you may have, from dateless registrations to finding clever ways of using existing or other styles of registration by swapping out letters for numbers to help buyers find the perfect combination to suit both their needs and most importantly ones that can be applied to specific ages of vehicle (which is often something newer buyers will be unaware of).
Many payment options:
Reserve a registration: If you have found a registration thatís perfect for you but do not have the funds available straight away we allow you.
Buy outright: You can purchase a private number plate using a credit or debit card.
Spread the cost: If you are looking to spread the cost of your registration purchase you can pay monthly over 12, 24, 36 or 48 months using our monthly finance options.