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Singapore Car plate number Cost more than Car

By May 25, 2020July 27th, 2020No Comments

As the standard of living improves overtime in Singapore, owning a BMW or Mercedes Benz has become the next norm for those with cash to spare.

In recent years there has been a rise in demand for Bidded Car Plate number with various purchase motivations. While some buyers look for nice looking Car Plate Number like SFH9090S with a market price at about $3500, others look for auspicious number plate like SDD8K with a market price of about $60,000. A group of Car plate number collectors goes for Vintage Car Plate Number usually, with less than 5 characters all alphabets and numbers included, like EL84K with and asking price of $32,000. Vintage car plate buyers go for the Car plate its rarity and uniqueness which very often is a conversation starter among motorists.

In addition, these Vintage Car plate numbers make good “investment” over the years prices have increased steadily for Vintage Car Plate number. The owner can cash out by selling the vintage car plate number.

In the used car resale market, one can easily get a 7 years old Honda Jazz 1.3L or a Toyota Vios which costs around $18,000 – $25,000 depending on conditions. Comparing the price of an “auspicious” or vintage number plate definitely cost more than the car. On the other hand, the used car might depreciate to just 30% of its purchased price where the number plate could have its price increased more than 30% upwards in the same period.

Mr Yang who is one of our readers shared a picture of his Citroen C5 with the Number Plate EL 84 K. He mentioned that he got a good deal for his Citroen C5 in 2019 from a direct owner at about $25,000, he later acquired the number plate which cost more than the car itself.

Photo: From Mr Yang

He believes that other driving a “typical” Mercedes Benz or BMW which most of his colleagues drive, he would rather get a car that is value for money and invest the rest into a Vintage Car plate.

Mr Yang: ” I always go to JB on the weekend, I am sure I get less pullover or summons if I am using this E plate (compared to using an iconic Singapore S plate), and when I retired I can sell the car plate for money. “

What do you think? Will you buy a Car plate number that costs more than your car?

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