When Can I Buy?

When you sell things for a living (heavy equipment and otherwise) that's a question that never gets old. It's a crucial one when it comes to TERP grants.

Buying equipment at the wrong time disqualifies it from receiving TERP funding.

In the early days of the program buyers could apply on units they purchased up to a year prior. That changed a few rounds back, but for those who don't follow the system's developments it can still come as a surprise.

Once a round starts it's open season. Not one day before.

For instance, the most recent round opened on December 20th, 2008. In that round you could apply for a grant on any equipment purchased starting on that date. If you bought an excavator on December 19th, 2008 then it was not eligible for that round.

Most people applied and waited for the results before buying which is completely understandable given the current economic climate.

So who can buy right now and be TERP eligible?

• Those approved in the most recent round that ended February 20th, 2009.
• Those approved in previous years' rounds who either have time left on their original contract or an official extension from the state.

If you plan to apply for a TERP grant on a machine next time around you cannot complete the purchase right now or anytime before the state announces they're accepting applications.