Hi,
Yes I think you are right there. Have just transferred a private plate off my wifes' car prior to p/ex ing and upon doing so, the cars' original number was reassigned to the car and this triggered :
- a new V5 being sent (you have to destroy the old one).
- retention certificate for private plate being sent.
Once you have the retention certificate you can then assign it to another car.
Of course, like you say, you have to inform your insurance co each time you do this and you need to pay the £80 transfer fee for the plate each time you transfer it off/on a vehicle.
If you can do it on-line and the vehicle doesn't need to be inspected, then the transfer process can be fairly quick.
I did the transfer at lunchtime on Tuesday last week, the new V5 arrived on the Friday and the retention certificate on Saturday.
I had to put the original number plates on as soon as the transfer of the private plate had taken place and the insurance had to be updated (it went down, bizarrely!).
hope that helps you engine, or anyone else in the near future...
cheers
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