7 Things You Need For The Upcoming SNL Series VRN Bidding

7 Things You Need For The Upcoming SNL Series VRN Bidding

When purchasing a new car, you will have to get a Vehicle Registration Number (VRN) registered to it. There are a few options for you to obtain a new VRN for your new car, including getting a random VRN assigned by the Singapore Land Transport Authority (LTA), buying from the open market, or participating in LTA VRN bidding.

VRN bidding gives people the opportunity to bid VRNs every time a new prefix is released. The minimum bid starts at $1,000 and you can put in 3 different VRN combinations based on the order of your preference. 

The process of vehicle number bidding is very simple and it is conducted online. 

However, it is important to note that the results might not always be in your favor. If someone else outbid you for the same VRN, your bid will be unsuccessful. But if your bid is successful, the VRN will be yours to keep.

Furthermore, there are several things that you need to prepare to ensure a smooth bidding process, which we will discuss in this article. 

 

7 Things to Prepare for VRN Bidding

After checking the available vehicle registration numbers for bidding, the next step is submitting your bid. We also have step-by-step articles on how to check for available VRN here.

Furthermore, the process of submitting a bid will take approximately 5-10 minutes. To complete the transaction, you will need the following:

1. The VRN you wish to bid for and list them in order of preference

2. The NRIC No./FIN/Company/Business/Association Registration Cert. No. of the vehicle’s intended registered owner

3. Email address for receiving results and e-receipt 

4. Contact number

5. A valid Internet Banking account with DBS/POSB, OCBC/Plus!, Standard Chartered Bank, or UOB (eNETS Debit) with sufficient balance and Payment Limit for your bid amount. You can also choose to pay with a Cashier’s Order for total payments above a total of $100,000.*

6. Refund due to unsuccessful bid for payment made by eNETS Debit:

  • Bank account details

    Refund due to unsuccessful bid for payment made by Cashier’s Order:

  • Mailing address to receive it by mail
  • Name and NRIC/FIN No. of the person to collect the refund at the LTA Customer Service Centre at 10 Sin Ming Drive Singapore 575701

7. A non-refundable service fee of $18.19 is paid via eNETS Debit for each bid submission

*The bid payment amount using a Cashier’s Order, which was previously above $50,000, was adjusted in 2023 to above $100,000.

Other Ways to Get Car Plate Besides Through Bidding

If you don’t want to bid VRN, you can get the VRN you want in the open market. 

Try to look for car plate sellers online on social media or online classifieds.

Moreover, buying from the open market has some advantages. There are a lot of number variations to choose from and sold at reasonable prices. Most importantly, you don’t have to worry about losing your preferred VRN due to being outbid by another bidder.

Additionally, you don’t have to wait for the LTA to release a new series of car plate numbers and have online VRN bidding to get your hands on your preferred VRN. This means you can get the car plate number immediately.