I sold my car 4 years ago to a guy who flipped used cars and had a dealer plate. He also worked at the BMW dealership (used side), so he may have procured it/borrowed it from there.
So I wouldn't worry about the dealer plate; I'd be more concerned if its a rebuild. Unless you're getting huge savings off the normal price for the car, I'd avoid a rebuild like the plague. Sure they "can" be fine and well done, but unless you're saving 40%+, not worth the risk.
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