For car owners across the globe, a private number plate is something that adds a special and personal touch to their vehicles. Moreover, it is at times a status or brand symbol! The royal families across the globe, do have it as their signature for people to recognize their vehicles on the road. The entire world has seen a rapid boom in the sales of private number plates.
But at times, people also consider selling their private plates, for diverse reasons. The reason might be just to stay up to date with a new private number, investment encashment, or financial needs. Irrespective of the reason, you can ensure to sell private plate at a great amount. You won’t experience any hassle upon selling it off, as buyers are always ready to take charge of anything that is fancy, VIP, or appealing.
So, this article intends to give you great exposure to how things are carried out if you intend to sell a private plates.
Before you can go ahead and sell off your private plate, you need to understand some conditions that revolve around it. You need to be sure about a few things before you can decide If your plate can be sold or not:
The vehicle upon which the private plate is being used should be registered to your name. The number plate should also be registered for that specific vehicle.
You should have the certificate of entitlement or the retention document from your respective transport office.
Check the document for the ‘Transferrable’ tag, without it, you cannot sell off your private plate. You should probably check it right at the time you are getting the numbers. People who have the mindset of using it as an investment or asset, do check for it. But the people with an intention to drive with it, do not! And that troubles the people, at the time they want to sell private plate.
There are a few options using which you can prefer to sell private plates. Different options have different procedures, and here is a brief on the easiest ways.
There are many dealers out there, working privately to help their clients buy or sell private plates. They are just like the estate agents for you, to be the middlemen between the seller and buyer. You can hand over your private plate to them, and agree upon a price with them. They will then list it over their portal or website and will find the buyer for you. They will process the deal, take the payment, complete the paper works, and hand over the decided amount to you.
But yes, they do take their share for offering you this convenience. It means that the dealer will already increase the value of your plate for the buyer by their respective percentage. You will only get the decided amount, and the rest will be kept by the dealer. You will have transparent information about the entire process.
You can approach this option with a mindset that you will be getting more if you sell private plates all by yourself. You might need to do a bit more work, but ultimately you will be getting a high payout. There will be no need to pay a cut to middlemen or dealers. Instead, you can deal with the buyer directly. You will be keeping the 100% payout received by the buyer, at the cost of a little effort from your end.
You can sign in to some number plate selling portals, or put up an ad over your social media channels. People will turn up to you for inquiries, and over time you will be able to sell off the plate. You can also talk to new car owners around your locality, to offer them your private and unique plate. If they agree, sell it off right away.
You can go to eBay, for instance, to sell private plates. But remember, it will again be a middleman and might charge around a 10% fee for listing your plate over their site. So, think about what is better for you!
So, you need to keep in mind that there are loads of people who intend to buy or sell off their private plates. If you are not taking the help of any dealer, then you do need to target a particular audience, such as new car owners or some private number lovers. In that way, you will have better chances of selling it off quickly. If you want to save time and hassle, you can go ahead and hire a dealer for the purpose. In either way, you are going to be in a profit!