Can you put a private plate on a financed car

When you finance a car, the lender usually requires you to put your vehicle registration in their name. This is done to protect their investment. If something happens to the car and it needs to be repossessed, the lender wants to be sure that they can take possession of it without any difficulty. However, there are a few ways that you can get around this requirement. In this blog post, we will discuss whether or not you can put a private number plate on a car that you are financing.

What is a private plate?

A private plate, also known as a personalised registration number or a cherished registration number, is a license plate that can be designed to show a specific phrase or slogan. This can be something like your initials and birth year, the name of your car brand or even an amusing message. Private number plates can help make your vehicle stand out from the crowd and can add value to its resale price.

But can you put a private plate on a financed car? The answer depends on who holds the title to the vehicle. If you are financing the car through a bank or other lender, they typically hold onto the title until your loan balance is paid off in full. That means that it’s not possible to transfer ownership of the car to another person or company and therefore can’t register a private plate for it.

How to buy a private plate?

If you’re looking to buy a private plate for your car and you are financing it, there can be some extra steps that need to be taken. Firstly, the registration needs to be transferred into your name or the leasing company’s name before it can be changed. You can do this online through the DVLA website or by post. Once the transfer is complete, then you can start looking for a private registration plate.

You can search for one online through third-party websites like National Numbers or Regtransfers. Most of these sites will provide you with results based on what type of car you have and its age, so it’s easy to find something that fits with your idea of style! It’s important to check the history of any private plate you’re interested in to make sure it has no previous association with an existing motor vehicle.

Can you put a private plate on a financed car?

The short answer is yes, you can put a private plate on a car that you’re financing. However, there can be some complications and restrictions depending on the type of finance agreement you have with your lender.

If you are using hire purchase or conditional sale finance to buy your car, then it’s likely that the terms of the contract will allow for the transfer of a private number plate provided that it can be done without increasing the cost of the loan. This can usually be easily arranged with your lender if they approve the transfer in advance.

Leasing can be more complicated as the vehicle will remain in ownership of the leasing company throughout, although this isn’t necessarily an obstacle. Some lease agreements can be amended to allow the addition of a private plate, but it is important that you check with your lender first before going ahead.