Before 2001, the annual registration change on August 1st stirred up quite a frenzy. Dealerships would extend their hours late into the night, allowing buyers to drive their new registration cars out of the showroom after midnight. Sales for manufacturers were heavily influenced by this date, disrupting a steady trade throughout the year. Additionally, there was the looming issue of running out of letters in the alphabet after the 'Y' registration.
Today, our registration changes twice a year, on March 1st and September 1st, corresponding with the year. Hence, next month will introduce the new 24 plate, and September will usher in the 74 registration.
Considering the impact on the residual value of a vehicle registered this month versus next month, there might be an increase in value three years down the line for the later registration. However, due to manufacturer and dealer targets, batches of vehicles are often registered before the change, attracting significant volume-related bonuses. Consequently, their purchase price renders the registration somewhat insignificant.
My recommendation is to assess the costs involved. If the vehicle's cost remains the same whether registered this month or next, and you're either purchasing outright or financing with the intent to buy at the agreement's end, then waiting could be prudent. However, if the purchase cost is significantly lower due to registration this month, there might not be a compelling reason to delay.
Feel free to reach out to me for advice or to discuss your concerns further.
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