Geez thats a crap deal on the plates.
In WA, we "own" them as such. The DPI technically own them, but you own the right to display them.

They must be on a vehicle at all times, otherwise they have to be in storage.

There is no annual fee.
There is no storage fee, but there is a $12.50 retrival fee.
The only fee is the upfront purchase cost, ranging from about $200 - $600 depending on what you want.

WA is still the best state!