Bag a bargain second-hand

Sep 14 2004

By Evening Gazette

Number plate snobbery is driving down the value of three-year-old cars with the old-style registrations. This is the finding of Glass's Guide used car experts who say that having the right registration is now almost as important as the vehicle it is attached to. Glass's valuation experts say that although many motorists do not necessarily understand the new registration system, they now recognise cars with the old and new type of plates. The result is a fall in the desirability of Y-registration cars, and anything older, because they seem to be more aged than they actually are. A car registered in 2001 with the old-style Y-registration is said to be worth marginally less than an identical vehicle registered just six months later with the new-style 51-plate. Story continues ADVERTISEMENT "Although many consumers remain unsure of just how the new plate system works, they are clearly able to differentiate it from the previous system and this is influencing perceptions of what constitutes an 'old' car," says Chris Smith, Car Editor at Glass's. "After an initial period of mistrust and plain confusion, the buying public are able to differentiate between the two plate schemes and there is now demonstrably higher levels of demand for cars with the new-style plate." Other factors are also currently putting values of three-year old Y-plate cars under increased pressure. In particular, there are significant numbers of Y-plate vehicles currently entering the market after finishing their three-year/60,000-mile stint of company car service. "Record sales of new cars over the past three years also means supplies of used vehicles are inevitably starting to rise. In 2001 a three-year old car was only competing in a field of 6,878,000 cars up to three years old. "By comparison, as of the end of last year, a 2001 Y-plated car joins 7,601,500 other used vehicles on offer in the UK, representing an additional 723,500 cars," he says. However, the good news for bargain hunters is that those who are not bothered about having the right registration, or who have their own personalised plate, can buy a three-year-old car more cheaply than ever before.

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