There are plenty of good reasons why private number plates continue to increase in popularity other than being a nice accessory. Today, there are more than 45 million of them on Britain’s roads and counting.
Over £2 billion has been spent on buying and trading private number plates so far, and the data suggests this trend will only keep increasing. Online search interest in buying and selling these unique license plates has increased by 58% since 2018. Other than the ability to express themselves with a unique number plate, why are so many people choosing to spend sometimes vast amounts of money on private number plates?
The fact is, there are many sound and logical reasons why investing in private number plates is a good idea. For one, they’re a good investment opportunity. They also don’t wear out and age tremendously well. They’re good for business because they enable self-promotion. Owning them can help deter thieves, and the uniqueness allows people to express themselves and their creativity wherever they go.
It’s a good investment
Private plates are good opportunities to invest money in. Every unique plate bought if it is wanted by others, increases in value instantly. This is because there can only be one of each kind in existence at once. This makes all personalised plates rare by definition. And if the license plate bares names, numbers or initials that are in high demand, that plate is instantly valuable and increases in value so long as it’s sought after.
These unique investments are backed-up by increases in market value. The data is in. Despite economic conditions, the demand for personalised number plates continues to rise year on year. And as the interest and demand for these valuable assets continue to increase, so does the value of each bought plate.
If you can buy private plates with especially sought after names, numbers or initials, the better your investment. The number 1, for example, has always been highly sought after. Popular initials of people’s names are also extremely popular and people with those names will often pay high prices to see their initials on their cars. The same goes for given names, such as John and Mary.
And in fact, personalised plates are proving to be such safe and worthy opportunities for investment that many people are choosing to invest in them instead of ISAs and bonds.
Private plates don’t wear out
Private plates hold their value because of their uniqueness. Many, especially personal ones, lasting lifetimes. As the appeal and demand for personalised plates continue to rise and as more unique combinations are bought out, so does their longevity.
These plates don’t have their registration date printed on them. And private plates with few digits or with letters and numbers deemed valuable to society remain valuable. These key aspects mean private plates don’t wear out as regular license plates do.
Good for business
If you’re a business owner looking to grow, you might be interested in buying a license plate with your unique stamp on it. Private number plates are a particularly good idea for business owners because any extra promotion and attraction are good for business.
With personalised plates, you can stamp your brand on your vehicles. Business-related number plates help businesspeople spread recognition and cement their brand everywhere they go. This could be with the name of the company, or the letters ‘CEO’ before the individual’s initials. The mantra any publicity is good publicity holds true for personalised number plates, too.
They deter thieves
Another interesting and potent reason why private number plates are more than just an accessory is that they can help deter thieves.
Historically, and still, in general, private number plates are owned by the wealthy and the middle-class who can afford them. And thieves, especially organised criminals, are going to be much more cautious of breaking into or stealing cars with private plates. This is because they could be breaking into a vehicle that’s owned by a celebrity or business person who, if they find the vehicle, could mean the thieves get more jail time and publicity these individuals want.
Personalised number plates allow people to express themselves
More than just a notable accessory, personalised number plates allow people to express who they are.
Private plates allow people to be creative and express who they are. Perhaps you want to stamp your initials on your plate, or your job occupation or you have an affinity for certain number combinations like a lucky number that hold significance to you. Or, perhaps some individuals would like to show their love and support by supplanting anniversary dates on a vehicle license plate. Whatever it is, personality number plates give plenty of room for self-expression that everyone can see.