Why are catalytic converters so expensive for scrap?

Catalytic converters have economic value as they contain precious metals. This is the main reason why they are sold as the most expensive scrap. Because it contains rhodium, palladium and platinum, which are among the most precious metals.

Why do scrap yards pay so much for catalytic converters?

The reason there is a price difference is because of the precious metals inside. There are many precious metals that clean the air that passes through the catalytic converter and those metals is what makes it worth money.

Which catalytic converter is worth the most for scrap?

Why are catalytic converters so expensive now?

Catalytic converters can be expensive because they need to be made from a mixture of precious metals. Platinum, palladium, and rhodium are some of the main precious metals required to make a catalytic converter.

What car has most catalytic converters stolen?

Why Are Scrap Catalytic Converters So Valuable?

What are the most stolen catalytic converters?

How much is a stolen catalytic converter worth?

Thieves can make anywhere from $25 to $300 for a standard catalytic converter, and ones from hybrid vehicles can sell for up to $1,400. These parts are also relatively easy to access from under the vehicle.

Why do thieves steal catalytic converters?

Why are people stealing them? Thieves target catalytic converters because of the value of the metals found inside the devices. Catalytic converters are typically made up of three precious metals: platinum, palladium and rhodium. The value of all three metals have risen sharply in price in the last decade.

What cars have their catalytic converters stolen?

Those vehicles most often targeted for catalytic converter theft during the past three years in California are the Toyota Prius, Honda Element, Honda Accord, Ford Econoline, Honda CRV, Ford F-250, Toyota Tundra, Toyota Sequoia, Ford Excursion and the Toyota Tacoma.

How much is a catalytic converter worth on the black market?

According to The Pew Charitable Trusts, a global non-profit organization with a focus in public policy, criminals typically sell stolen catalytic converters for $50-$500 to internet buyers or scrapyards.

Where can I get the most money for my catalytic converter?

In short, scrap yards are your best bet for selling your catalytic converter because they will focus on the value of the metals in your cat, not your cat as an auto part.

Why do people buy catalytic converters?

They are prized because they use the precious metals rhodium, palladium and platinum to filter car exhaust. As the prices of those metals have risen higher than the price of gold, the devices have become greater targets for theft.

How much gold is in a catalytic converter?

Catalytic converters contain Platinum, Rhodium and Palladium. However, there is no gold in catalytic converters.

Why are Toyota catalytic converters stolen?

Currently, Prius is being targeted because catalytic converters of hybrids need more of the precious metals to work properly because they don't get as hot as those installed on conventional vehicles, since the combustion engines of hybrids only run part of the time.

Does insurance cover a stolen catalytic converter?

Is a stolen catalytic converter covered by insurance? If you have comprehensive coverage on your auto insurance policy, then you're typically covered against catalytic converter theft. Comprehensive coverage will typically pay to replace the stolen catalytic converter and repair any related damage from its removal.

Where are all the stolen catalytic converters going?

Thieves target vehicles like Toyotas, Fords and Hyundais getting under the car to cut the catalytic converters, sometimes in less than a minute. The converters are then sold to junkyards and scrap yards for a couple of hundred dollars. For you to replace it though can cost over $2,000.

What year cars are targeted for catalytic converter theft?

In the western part of the country, the following cars are the top targets: 2001-2021 Toyota Prius. 1985-2021 Ford F-Series. 1989-2020 Honda Accord.

What kind of cars do Thieves target for catalytic converter?

The top cars targeted by catalytic converter thieves in the West are: 2001-21 Toyota Prius. 1985-2021 Ford F-Series. 1989-2020 Honda Accord.

How do thieves remove catalytic converters?

How Do Thieves Take Them? Unfortunately, stealing a catalytic converter is very easy to do. Thieves usually slide underneath a car with a battery-powered reciprocating saw and cut it right out of the exhaust line. It takes about 2 to 3 minutes and makes as much noise as any other power tool.

Why are Prius catalytic converters worth so much?

Why the Prius above other cars? Hybrids require catalytic converters with a higher concentration of precious metals than those found on gasoline-only cars. The HLDI notes that the converter from a 2007 Prius is selling for about $1,022 today, compared to just $143 for the converter used a Ford F-150 from the same year.

How much is a scrap Prius catalytic converter worth?

Best Covid-19 Travel Insurance Plans. For example, the recent scrap price for a catalytic converter used in the 2004-09 second-generation Prius 1.5 was $1,022, according to AutoCatalystMarket.com.

How much is the metal in a catalytic converter worth?

Recyclers will pay between $50 and $250 for a catalytic converter, according to the NICB. The metals can be sold for even more if lifted from hybrid gas-electric cars like a Prius. "All the newer hybrid vehicles, they're going for scrap values of anywhere from $800 to $1,500," according to Mead.

How much are Ford catalytic converters worth?

The average current price for used ford catalytic converters is $474 from the last 240 listings.