The Hidden Benefit of Owning a Cherished Number Plate
Posted: Wednesday, October 20, 2010
by James Lee
Simply Registrations
Cherished number plates are considered by many motorists to be overpriced and a waste of money. People often comment they would not be prepared to spend several thousand pounds for the privilege of having their name or initials displayed on a number plate at the front and rear of their car.
Okay, so the idea of personalising your vehicle simply does not appeal to everyone. However, what if you secretly had a desire to own a cherished registration and it was only the price that was putting you off?
It all comes down to how you view the action you are taking when you buy your cherished registration. Are you purchasing, or are you investing?
Think about the closest associated product to the cherished number plate; the motor car. There are not many motor cars which are considered to be investments. I accept there are certain vintage models and some very special editions which do appreciate in value over time. However, in the majority of cases when you buy a car you accept it is a depreciating asset. It is no secret that a brand new luxury saloon costing forty thousand pounds will be worth less than half that amount within three short years.
Now let us consider a carefully selected cherished number plate which could be yours for the sum of five thousand pounds. In three years time your cherished registration should still be worth five thousand pounds. The good news is that over a longer period of time it is highly likely that your carefully chosen cherished registration will actually increase in value.
So to put it in context you buy a car, pay road tax, pay motor insurance, buy fuel to make it go and all the while the car is losing value. Many motorists think nothing of spending tens of thousands of pounds on a motor car, but baulk at the idea of investing a fraction of that amount in a cherished registration.
The message here is that if you do harbour a desire to own a unique and personal cherished registration; please do not decide against it on the grounds of cost. If you choose wisely (and most number plate dealers will be happy to advise you), it may not actually cost' you anything at all in real terms.
About the author
James initially started investing in cherished number plates with one thousand pounds. Simply Registrations, the private number plates company in Wakefield was formed four years later. If the idea of owning a cherished number plate appeals to you, click over to the SimplyRegistrations.co.uk website for more information.
This Article has been viewed 139 times. (Not updated in real-time.)
No comments yet.We want your comments! If you can read this, you don't have javascript enabled, so you can't use this comment system. Please enable javascript.