EUC question

[seca954]

As I understand it from reading GovPlanet, I can't apply for an EUC until I purchase a vehicle. Is it possible to apply for an EUC before a purchase has been made, to speed up the process?

 

[wheelspinner]

Nope.

 

[seca954]

Is it common for EUC's to be denied?

 

[wheelspinner]

Nope, but the first one will take 3-4 months

 

[Wire Fox]

If you're worried about getting kicked back on an EUC, the trick is to buy something cheap and useful to you that requires an EUC first. Something like a trailer that costs less than $1,000. That way if you are rejected, the restocking fee is very small compared to what it would be for a several thousand dollar truck. When you do finally buy your truck, you file the EUC for it knowing you've already cleared it once. You still technically could be rejected for the truck at that point, but I think it'd be highly unlikely. The side benefit is your second EUC in a 1 year period is typically much faster after you were approved for one-maybe 2-3 weeks?

Now all this said, I don't think I've read a single post on here, or anywhere, saying "MY EUC WAS REJECTED! WHAT DO IT DO!?" It really doesn't appear to be a common occurance.

 

[doghead]

Restocking fee?

 

[Wire Fox]

Restocking fee?

A claim I now can't back up. I had sworn that I had read that in in some official paperwork that if your EUC was denied and you could not collect your item, you would be refunded to price of the item-less a certain percentage for what I'm calling a "restocking fee"- and it is then relisted for auction to someone else. I can't find a word to back that up now, so it's now just drivel unless i can find that information...

EDIT: Now I found it! It doesn't explicitly say something like "if your EUC is rejected, here's the cost," but between two policies they have listed, it's pretty safe to assume that this is what it will be:

http://www.govplanet.com/pop/terms_page.jsp?noh1=yes

Check out the surplus terms and conditions plus the abandonment terms and conditions. The first describes what happens if you fail to submit an EUC. The latter effectively covers any scenario not allowing you collect your item within 60 days of its authorization of pickup. The first would simply be 25% of the winning bid or $30-whichever is greater. The second would be either whatever mercy the seller offers, or this: "The item will be advertised for sale on IronPlanet's Marketplace and IronPlanet will remit the resale amount to the Buyer less IronPlanet's expenses, storage costs*, any Seller-related expenses, and a 20% administrative fee." In a nutshell, they sell it on your behalf and charge the full pile of fees on top of that sale. Whatever's left is your refund.

 

[porkysplace]

A claim I now can't back up. I had sworn that I had read that in in some official paperwork that if your EUC was denied and you could not collect your item, you would be refunded to price of the item-less a certain percentage for what I'm calling a "restocking fee"- and it is then relisted for auction to someone else. I can't find a word to back that up now, so it's now just drivel unless i can find that information...

Do you mean Default fee ?

from iron planet;
Default and Late Payment Fees
If the winning bidder fails to complete the transaction for any reason, they must pay a Default Fee based on the final selling price of the item less Buyer's transaction fee. In addition, Buyer will be charged a Late Payment Fee on all items purchased that have not been paid within five (5) business days after conclusion of a Purchase Contract. The Default Fees and Late Payment Fees are described in the chart below.

Final Selling Price Ranges	Default Fee	Late Payment Fee (per business day per item)
$2,500 or less	$500	$10
$2,501 to $10,000	$1,500	$25
$10,001 to $25,000	$2,500	$50
$25,001 to $50,000	$4,000	$100
$50,001 to $100,000	$5,000	$250
$100,000 or greater	$6,500	$250

If a bidder defaults on multiple items in the same auction the final selling prices of the defaulted equipment will be added together to determine the applicable default fees.
Unless and until all default and late payment fees are paid in full a customer will be prohibited from bidding on our site. GovPlanet unilaterally reserves the right to prohibit participation on our site at anytime.

 

[Wire Fox]

Do you mean Default fee ?

Either that, or what I just edited in above. Whichever way it happens, it's pretty evident that they have a system of fees setup that covers what happens if you are unable to or will not go collect your item, and in all cases, if you absolutely had to be assessed one of these fees, you're better off the cheaper the item is.

 

[seca954]

The trailer is a great idea. However, if I came home with a trailer for a Humvee and didn't have anything to pull it with, she would demote me. I was hoping there was a simple way to pre qualify.

 

[98G]

The trailer is a great idea. However, if I came home with a trailer for a Humvee and didn't have anything to pull it with, she would demote me. I was hoping there was a simple way to pre qualify.

A liquid oxygen tank requires an EUC and sells for around $100.

 

[wheelspinner]

Stop overthinking this. If you are an American citizen and plan to keep for personal use and you have no bad things to make them think you are a threat it's just a long time taking paper shuffle.

 

[infidel got me]

Yeah what he said!!

 

[doghead]

So, to clarify, there is no fee if your EUC is denied.

I think that was the incorrect original statement made.

That way if you are rejected, the restocking fee

Yes, there are other terms that could cost you, but it would be due to your own negligence.

 

[Action]

So, if I buy an old trailer for $350 and do not complete the transaction, I then owe them a $500 default fee? Thats like giving them $150 and not getting anything.