Can you Change Number Plates on a Financed Car?

number plate finance

When you’re considering buying a private number plate for a financed car, it’s crucial to understand the rules surrounding ownership. The ability to change a number plate depends on whether you own the car outright or have it financed.

Do Financed Cars Have the Right to Change their License Plates?

Yes, you can put a private plate on a financed car, whether it’s under a personal contract purchase (PCP) or hire purchase (HP) agreement. However, since the car is technically owned by the finance company until you’ve completed your payments, you’ll need their approval first. Most finance companies are happy to accommodate this request, provided you follow the proper procedures.

Outright Ownership

If you buy a car outright, you have complete control over it, including changing the number plate.

Financing and Leasing

Even if you haven’t fully paid for the car, you can usually still change the number plate. If you’re financing, you are typically the registered owner and keeper, giving you the right to change the plate. With leased cars, you’ll need permission from the leasing company before making any changes.

End of Agreement

When your finance or lease agreement ends, your options regarding the number plate depend on the ownership situation.

  • If you fully own the car – you have complete control over both the vehicle and the private number plate, meaning you can retain ownership of both without any restrictions. This allows you to continue using the private plate on your current vehicle or transfer it to a new one at your discretion, ensuring the personalised plate remains with you for as long as you desire.
  • If you’re returning the car -It’s essential to remove the private number plate before handing the vehicle back. Ideally, this process should be started a few months in advance to allow enough time for all the necessary paperwork to be completed and for the DVLA to issue a replacement registration. Failing to remove the plate in time could result in losing ownership of it, as the plate would then remain with the vehicle when it is returned to the leasing company.

Once you’ve removed the private plate, you can:

  • Sell it
  • Assign it to a different vehicle
  • Retain it for future use


Inform Your Insurance Company

Once your plate has been assigned, notify your insurer immediately. A mismatch between your registration number and insurance details could invalidate your policy.

Why Private Plates Can Be a Smart Investment

Private number plates can be valuable investments, particularly cherished ones. Selling your plate could result in a significant return, especially if it features a rare combination or high-demand sequence.

Plates with short formats, popular names, or distinctive initials often attract premium buyers, making them highly marketable. Whether you’ve owned your plate for years or recently acquired it, its value could have increased over time, turning it into a lucrative asset.

Whether you’re buying or selling, personalised number plates are more than just a visual upgrade—they’re a smart financial move. If you’re looking for a new plate, at Reg Plates, we have a wide range of options to suit your style and budget.

What Processes are Involved in Transferring a Private Number Plate to a New Vehicle?

When transferring a private number plate to a new vehicle, the first step is to apply for a retention certificate through the DVLA website. This process removes the private number plate from the current car and places it on retention, allowing you to keep it.

Once the number plate is on retention, you will need to put the original number plates back on the vehicle so that you can trade it in or sell it. The DVLA will provide you with the original registration number, which you will likely have stored away.

After purchasing the new vehicle (new or used), the dealer will need to register the car in your name through the DVLA. This can take up to five days. Once you have the registration document with your name on it, you can then apply to the DVLA to have the private number plate transferred onto the new vehicle. You will receive a new registration document with your details and the private number plate.

Why Add a Private Plate to a Financed Car?

Many drivers opt to personalise their vehicles by adding a private number plate, even when the car is financed. This desire to customise is driven by several reasons, each offering a unique benefit that enhances the ownership experience.

One of the most common motivations is the desire for personal identity. A private plate allows drivers to reflect something meaningful about themselves through their vehicle’s registration. Whether it’s a combination of initials, a significant date, or a unique phrase, these personalised elements make the car feel distinctly theirs. It transforms an ordinary number plate into something memorable and personal, making the vehicle stand out in a crowd and giving its owner a sense of pride.

Personalised plates are often associated with prestige, conveying success or a certain lifestyle. This perception is especially common with distinctive number and letter combinations that are rare or exclusive. Drivers who want to make a statement about their achievements or taste may see a private plate as a subtle but impactful way to showcase their status on the road.

While private plates do not increase the resale value of the car itself, they can be viewed as a long-term investment. Since a private plate is independent of the vehicle, it can be retained and transferred to future cars. This flexibility allows owners to carry their unique identity across different vehicles over time. A private plate becomes a lasting asset, offering both personal and financial value beyond the life of the financed car.

Adding a private plate to a financed car is about more than just aesthetics. It’s a way for drivers to express their names or showcase their business, and make a lasting investment in something that can move with them from one vehicle to the next.

Get Personalised Number Plates from Reg Plates

With a database featuring over 45 million private number plates for sale, we offer options for every budget and preference. Our easy-to-use search tools help you find the perfect plate, whether you’re after a cherished, personalised, or distinctive registration. From rare combinations to affordable alternatives, we’ve got something for everyone.

As industry leaders since 1991 and a fully compliant, DVLA-registered reseller, we ensure every transaction is handled securely and in line with current regulations, giving you peace of mind throughout the process.

Trying to find a new license plate but need help? Reach out to our team today!