Trading cars - private plate process.
Discussion
I have a private plate on my current car. Nothing special but it's my initials.
A car I am interested in has a private plate, at a dealers.
The plate is not one I would want but is worth something on retention (allegedly valued at over £1000 so it would be a little offset on the deal).
The dealer is several hours away.
So what is the process for juggling plates and not having to endure a nigtmare with the insurance companies or is that inevitable?
ie - Remove mine to replace the original plate.
Put the new car's on retention.
Reassign mine to new car.
A car I am interested in has a private plate, at a dealers.
The plate is not one I would want but is worth something on retention (allegedly valued at over £1000 so it would be a little offset on the deal).
The dealer is several hours away.
So what is the process for juggling plates and not having to endure a nigtmare with the insurance companies or is that inevitable?
ie - Remove mine to replace the original plate.
Put the new car's on retention.
Reassign mine to new car.
Are you part exing your car? if so it would be advisable to get it off prior to the trade, can do it online immediately (in most cases) and will need to wait for your new V5 to come through.
The same will apply for the dealer if they are keeping the plate and not selling it with the car. If its staying with the car then you will buy the car on the private plate , insuring it under the same.
Once in your possession you can put it on retention and then put your different plate on. You will have a retention fee and insurance admin fee.
If however they are keeping the plate, they may be able to take the plate off the new car and assign your plate - allowing you to insure under your existing plate and drive away. But yours will need to be on retention before you can do so.
The same will apply for the dealer if they are keeping the plate and not selling it with the car. If its staying with the car then you will buy the car on the private plate , insuring it under the same.
Once in your possession you can put it on retention and then put your different plate on. You will have a retention fee and insurance admin fee.
If however they are keeping the plate, they may be able to take the plate off the new car and assign your plate - allowing you to insure under your existing plate and drive away. But yours will need to be on retention before you can do so.
Edited by redandwhite on Thursday 23 March 14:54
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