If you are planning to change or get rid of your car, van or motorbike, then you may need to remove and retain a personalized number plate London from the vehicle.
In some cases, you might be purchasing a private number plate as an investment and not intending to use it on a car, motorcycle or van. The following guide will help you when either of these apply to you.
Why retain a private number plate?
Putting a private number plate on retention gives you the right to assign or sell it in the future. The majority of private number plates can be placed on retention for use in the near or distant future. The exception is plates that start with Q or NIQ.
Now, a retention document can be obtained from DVLA, and this protects your right to the private registration. The document lasts for about a decade and can be renewed before it expires. If you retain a private plate and the donor vehicle is to be used, it will be given a replacement registration, this is often the one it formerly had.
The alternative to retention is to surrender your right to the private plate. This is not advisable bearing in mind the often-high value of personalized registrations.
How can you retain a private number plate?
A set of conditions related to the vehicle apply to private number plate London retention. It must be DVLA registered. It will also require an MOT pass, or in the case of heavy goods vehicles (HGV), an HGV test passes.
It must either have current road tax, or a Statutory Off Road Notification (SORN). If the SORN has existed for more than five years, the vehicle needs current tax. The vehicle also has to be capable of moving using its power.
This is because DVLA sometimes inspects vehicles. The organization will get in touch as and when needed.
How much is it to retain a private number plate?
The DVLA charges a transfer fee when you apply for a private number plate retention. This amount isn’t fixed and it changes. You may need to pay for new plates made up.