Auto Trader

'Cherished' is the name the Department of Transport has given to personalised registrations, and whilst they are associated with the same prestige and success, cherished numbers have never been more affordable and accessible.

Depending on your criteria and budget, you can personalise your vehicle from anything from £100 to £225,000 (the current record), but most registrations sell for less than £5000.

Personalising your wheels can be great fun. You can choose your initials, favourite football team or your occupation. The idea is that it should be personal to you. In addition, personalised plates have historically always gone up in value, so you could be making an important investment.

To quote Quentin Wilson, former BBC Top Gear reporter, 'if you buy a good plate well, it will literally make you money.'