Drivers warned 'travel by foot where possible' ahead of DVLA change

Number plate changes launching next week could see cars lose "30 per cent" of their value immediately. Motorists and road users face losing 30 per cent of the value of their motors as the Cost of Living crisis continues amid driving law changes.

Experts have suggested that the upcoming licence plate changes to the new “74” plates from September 1 will make second-hand cars more valuable. Richard Evans, head of technical services at webuyanycar, explained today (Thursday August 22) to BirminghamLive that the rollout of the “74” number plates may see vehicle values change as they become another year older.

He went on and said: “While demand is a key factor in determining a car’s value, the newer a car is, the higher value it initially has so another year of a car’s lifespan could affect a vehicle’s price.” Research from the group found that almost a quarter (23 per cent) of drivers believe that new registration plates would make second-hand cars more in demand.

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“Keeping the car in good working condition by having it serviced on a regular basis will also help to ensure the next owner has full confidence and an insight into any previous work or repairs the vehicle has had,” he said. He advised drivers to travel by foot where possible to help reduce car use.

This is because regularly using a car for shorter journeys can ramp up the mileage. From 1 September 2024, new cars will be registered with a 74-plate. The new 74-plate will apply to all new vehicles registered until February 28, 2025.

All new number registration plates will incorporate the number plate changes introduced from 1 September 2021, which mandate the use of solid black lettering and more durable materials. All standard number plates follow the same system under DVLA rules.