DVLA Smart Number Plate System Set Up
The introduction of a new smart vehicle licensing system by the Driver and Vehicle Licensing Authority [DVLA] would raise the cost of vehicle registration.
Though authorities are unable to say exactly how much it would, it is expected that the new technology and some other variables would contribute to the price increase.
Speaking to JoyNews, CEO of DVLA, Kwasi Agyeman Busia, said the pricing of the smart system will be determined by analyses from consultants from the sub-region. This should be completed by the 18th of July.
The DVLA as part of its digitisation process, is replacing the existing vehicle registration regime with a smart card service, to reduce human-to-human interaction in registering vehicles and also do away with paper documentation.
Digital documentation have already been done on vehicles from 1995 to date and starting from July 18, all vehicle registration is expected to be paperless as details will be transferred onto a smart card.
The Authority expressed optimism that the initiative will solve the problem of fake documentation on vehicles and ownership in the country.
"At any point in time, the one source of truth for a vehicle's owner is DVLA so for example if you got to the bank and you're using your car as a collateral, what we have now is the bank will consult DVLA through a mechanism we are establishing with and we are the only source to say this vehicle belongs to John/Jane Doe.”
The wide-ranging reforms by the DVLA which is to ensure that all drivers have been properly certified to handle vehicles will also see the phasing out of existing drivers' licence to be replaced with new ones with better security features to curb duplication.
The UK in particular has a relationship with personalised number plates. According to estimates by the DVLA (Driver and Vehicle Licensing Agency), the UK reported an excess of two billion pounds in tax revenue from tax auctions over the past 25 years. As they are keen to state, an expression of interest in a particular plate by three people or more is enough to push the price of that Reg plate through the roof. It has also been documented that the buyers let their hearts take control of their heads when they bid for these plates.
Personalised number plate auctions are constantly rewriting the record books with regard to the highest price paid for a plate. The record currently stands at £518,000 which is quite impressive. The prices of these Regplates does not seem to be slowing down either.
Of particular interest is the recent auction of the highly-hyped 250 C Reg plate which sold for £21,500. This is a clear indication that the expectations for the prices of personalised number plates will continue to increase.
Established For Over 25 Years
the Cherished Numbers Guild
- Free transfer service - your paperwork is handled by our trained team
- Over 25 years expertise - long established and trusted company
- DVLA Recognised Reseller - linked directly from the DVLA website
- DVLA Registered Number Plate Supplier - in line with all DVLA & MOT regulations