Buyer fees

Buyer Fees

Registering with TruckPlanet and participating in auctions are free.

Transaction Fees
For each item won in a TruckPlanet Auction, the Buyer must pay a transaction fee. The amount of this fee is based on the final selling price and is detailed on the Payment tab of the listing page for each item.

 

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 items 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. TruckPlanet unilaterally reserves the right to prohibit participation on our site at anytime.

 

Storage Fees
Buyers shall remove the item from Seller's premises no later than eight (8) business days after the Auction closes, after which Buyers may be responsible for payment of Storage Fees, and in some cases payment of cost to transport the item to an alternate location. If a Buyer has not removed the item from the Seller's location within eight (8) business days after the close of the Auction, the Buyer will be responsible for directly paying the Seller any and all storage fees if levied by the Seller. If levied by the Seller, standard storage fees will be $25 per day, beginning on the 9th day after the close of the Auction for the item.