Personalised number plates can cost you an extortionate amount of money depending on the characters and numbers they have on them.
Certain exclusive registrations can be secretly worth a lot of money. Last year, British drivers reportedly spent £100million on custom car registrations.
The record for the most expensive number plate sold in the UK is ’25 O’ which went for an eye-watering £518,480 at auction.
The second most expensive registration is the ‘F1’ number plate which was purchased by Bradford businessman Afzal Khan in 2008 for £440,000.
Number plates with fewer characters will typically fetch the most at auction. On the list of the top 10 most expensive number plates sold in Britain five had just two characters – 1 0, M 1, 1 D, S 1 and F 1.
While your standard number plate is fairly unlikely to be worth hundreds of thousands of pounds it could still be worth a chunk of change.
The Guide to the Value of Car Registrations in the UK has created a value calculator which can allow motorists to roughly calculate the value of their vehicle’s number plate.
Even typically ordinary plates could be worth a few hundreds or thousands of pounds. For example, registrations from 2010 can also attract a higher price of around £1,499.
Author and founder of British Car Registrations Brian Bell said: “The Guide to the Value of Car Registrations in the UK is the most essential and authoritative car registrations reference work available and the only book of its kind valuing registrations.
“Nobody in the industry has valued more registrations than I have and I regard it as a classic that no car registration lover can afford to be without.”
Alternatively motorists could use one of the many number plate calculators which will give you an estimate on the value of your vehicle.
To use these websites you typically have to input your registration number and some other details to be able to generate a valuation of your car.