Motorists are being warned of number plate issues which could cost them thousands of pounds ahead of new changes launching within weeks.
From March 1, 2025, the new “25” number plate will be introduced to forecourts across the UK, with drivers able to get their hands on the latest models.
This is in line with the tradition of two new registration plate number identifiers being introduced every year, with one in March and the second in September.
The bi-annual number plate changes have been in place since 2001 and will see the introduction of the “75” plate on September 1 later this year.
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New number plate changes will be launching on March 1, 2025
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While some drivers will be keen to buy the latest models, many could be hammered by seeing their current vehicle plummet in value as the market adjusts to new stock.
The warning from Tim Rodie, driving expert at Motorpoint, states that Britons could see the new batch of “25” plate models massively impact the market.
He said: “It’s well documented that new car prices are heavily impacted by the plate change, but motorists may not be aware that the price of their current vehicle can also be affected.”
Rodie noted that it isn’t the new plates which impact the value of the car, but the influx of new vehicles on the road.
He added: “With newer models entering the used car market and lots of drivers looking to sell, you could see the value of your car decline quite considerably.
“If anyone is looking to sell their car, I would strongly recommend that they do so ahead of March 1st.”
Rodie stated that drivers should learn what the numbers and letters on a number plate mean, regardless of whether it is a new car with a new plate.
The first two letters represent the DVLA tag for the location where the car was registered, with the two numbers indicating the year of registration. The last three letters are completely random.
Generally, the age of a vehicle can massively impact its value on the used car market, with drivers potentially hesitant to invest in a vehicle which is prone to breaking down.
Meanwhile, newer vehicles could command a far heftier fee as they will likely have far lower mileage, very few repair issues and will generally be in a more suitable condition for the road.
While a “24” plate vehicle will have only been released between March and September last year, from March onwards, many may avoid the car because they deem it to be older.
Rodie said: “Keeping tabs on the age of your vehicle and selling your car ahead of the plate change is one of the easiest ways to ensure you are getting the best price possible.”
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Two new number plates are released every two years
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While the value of some cars could drop, on the whole, the UK will see a huge increase in the number of new registrations of vehicles, especially before major car tax changes being introduced in April.
