Connect with us

Money

How Much Does It Cost To Bid For A Unique Vehicle Registration Number in Singapore?

Z00m 1n 5tyl3


Vehicle Registration Numbers (VRN) or licence plate numbers are assigned to all vehicles in Singapore. Usually, the Land Transport Authority (LTA) automatically assigns a new VRN to the vehicle, or the owner can retain their current VRN. Most of us are fine either keeping the current VRN or automatically getting assigned a new one once we purchase a new vehicle. For those of us who want our car plate numbers to be more special, we can also bid for a unique vehicle registration number. 

Read Also: How Much Can You Save With An Off-Peak Car (OPC)  

Bidding for a Vehicle Registration Number Is For Those Who Want A Unique Car Plate Number  

There are certain VRNs that you cannot bid for. (i.e., SBS, MINDEF). These reserved VRNs are set aside to either be used by government vehicles or to reduce the chance that a VRN might be distasteful. Besides the reserved letters for the government and unique vehicles, there are some numbers that people want – like a “88” or “S3XY” on their number plate.  

Some owners would forgo certain assigned numbers as they might be inauspicious and choose to bid for a better one, while others might go for VRNs with numbers that are special to them, such as a number signifying a special occasion.  

You Just Need $1,000 To Start Bidding For A Vehicle Registration Number  

Before starting your bid, do check whether your preferred VRN is available. Once cleared, you must start bidding. The minimum amount to bid is $1,000, but of course, if your preferred number is highly sought after, like “888” or “7878”, be prepared to fork out more to outbid others.  

One issue though – you will not know how much others are bidding as it is a closed bid system. Therefore, you should do some research before your bidding process. You can check sites like Motorist, SGcarmart or Carplatemart to understand the average market prices and increase your chance of a successful bid.  

Read Also: Guide To Understanding Vehicle Emissions Scheme (VES) In Singapore 

Time To Bid: Main Bid VS Weekly Bid 

There are two rounds when you can bid for your VRN: the main bid and the weekly bid.  The weekly bid comprises leftover VRNs from the main bid. The main bid starts on a Friday (0100hrs), ends the following Wednesday (1630hrs), and is subject to public holidays. The weekly bid starts on the first Friday, following the end of the main bid, at the same schedule.  

Once you are ready to start bidding, do remember to get your documents ready before the commencement of the bid. These are the required documents:  

  • Your preferred VRN (in order of preference)  
  • NRIC No./FlN/Company/Business/Association  
  • Registration Cert. No. of the vehicle’s intended registered owner 
  • Email address for notification of results and e-receipt 
  • Contact number 

You may also need to increase the payment limit for your payment amount if you are making a digital payment transfer. For total payments above $50,000, you can also choose to pay your bid with a Cashier’s Order. Additionally, you will need to pay a non-refundable $10.70 service fee for each bid submission. 

Once you have completed bidding for your VRN, you can check the results of your application here. If you are unsuccessful, your bid amount will be returned, less the $10.70 service fee. You can learn more about the entire process via OneMotoring. 

Read Also: Cost Of Owning A Car In Singapore Over 10 Years 

Buying Your Vehicle Registration Number From The Open Marketplace 

Blind bidding might be daunting for some, as they are unable to accurately place a price that is low enough to achieve a successful bid, but not too much as to overpay for it.  Another option is to visit sites like Carplate, Carplatemart, SGcarmart or Carousell to look for a VRN of your liking. At least now you can view the prices before the purchase, however, you will be paying a premium (depending on the type of VRN) as you will be buying it off from someone who initially made the bid or got lucky enough to get it automatically assigned and the VRN meant something to someone.  

Listen to our podcast, where we have in-depth discussions on finance topics that matter to you.