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Financing a car is one of the easier ways to own a car in the UK. With a lender, you can drive your desired vehicle and fully own the car so long as you adhere to the terms of the financing agreement. However, driving a car is one thing. Having a personalised number plate to go with it is even better.

A private number plate is a special kind of registration plate for vehicles that allows you to customise your registration number, giving your car a much more distinctive and personalised appeal. Having a private number plate is wonderful and something to be proud of for many people. However, can a financed car have private number plates even if the car is not entirely paid off?

Private Number Plates on a Financed Car

Financing a car means you are buying the car through a loan. Although the car is not fully paid for yet, it still means that you are the registered keeper of the car. You can use the car and do whatever you want with it as long as you continue to pay the financing agreement.

As a registered keeper of the car, you have the freedom to replace the number plate of the financed car. All you need to do is to apply with the DVLA to assign a private number plate.

Eligibility of Assigning a Private Number Plate to a Car

As long as you are the registered keeper of the financed car, you are allowed to assign a private number plate to the car. However, there are requirements you need to meet.

According to the Driver and Vehicle Licensing Agency, the financed vehicle is eligible to have a private number plate if:

  • The vehicle is registered with the DVLA in the UK.
  • The vehicle can move using its own power.
  • The vehicle has an MOT or heavy goods vehicle (HGV) test certificate.
  • The vehicle should be available for inspection anytime DVLA will contact you.
  • The vehicle must have been taxed or had a SORN in place continuously for the past 5 years.

Apply To Assign the Private Number Plate to a Financed Car

If your financed car is eligible to be assigned a private number plate, then you can apply with the DVLA to have your private number plate assigned to your financed car. You can apply online — providing the required documents and filling out the required information — or by post — mailing the required documents to the DVLA.

The DVLA requires you to have one of the following documents for you apply to assign a private number plate to your financed car:

  1.  V750 certificate of entitlement: Proof that you bought the private number plate.
  2.  V778 retention document: Proof of an existing private number plate from a different vehicle.

Therefore, depending on the private number plate you intend to assign your financed car, make sure you have the necessary documentation and send it to the DVLA online or by mail.

The Bottom Line

A financed car can have a private number plate as long as the car is eligible and you have the documents that the DVLA requires.

Once the DVLA has received your application, they will process the assignment of the private number plate to your financed vehicle. Once approved, you will receive confirmation that you are free to use the private number plate on your car. You can also keep the original number plate of the financed vehicle because it can be reassigned to the vehicle in the future if you decide to remove your private number plate.