DVLA changes seen on road from today could lose drivers 'thousands of pounds'

James Rodger

2 September 2024 at 2:43 am·2-min read

Major number plate changes from THIS MONTH could see motorists lose thousands of pounds. Drivers could see their cars lose value when new number plates are rolled out with the new '74 plates will be seen on forecourts and in dealerships for the first time this weekend.

Drivers will now be able to purchase vehicles with the latest “74” registration plate identifier which reflects the second number plate change of 2024. Experts are warning that the vehicles can be identified as being a year older, potentially causing their value to drop.

James Hosking, director of AA Cars, said: "This month’s new '74' plates should provide a timely boost to both new and used car markets. This biannual event in the motoring calendar traditionally injects fresh impetus into the new car market — particularly in the private sector — as drivers rush to get the latest plates.

"With private sales dwindling in recent months, according to the SMMT, dealers will be holding out hope that September leads to a much-needed increase in demand.” Hosking commented: "While there has also been a slowdown in UK manufacturing as factories retool for new models, forecourts still offer ample new stock, including EVs and hybrids.

“The increased availability of eco-friendly options is expanding consumer choice and driving down prices. Savvy buyers can also find great deals on used cars during September’s plate change, as dealerships anticipate an influx of nearly-new vehicles and often seek to clear their existing inventory.”

Richard Evans, head of technical services at webuyanycar, explained that the rollout of the “74” number plates could affect a vehicle’s price, and said: “It's also worth checking how long a car has been on the lot, as dealers might offer better discounts on older stock.

"While new plates might grab the headlines, the real bargains this September could be waiting in the used car market."

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