How much can you make from a stolen catalytic converter?

A stolen catalytic converter can generate $25 to $500, according to a 2021 report by the Congressional Research Service, and could cost an owner $3,000 to replace the part.

How much does a stolen catalytic converter sell for?

Catalytic converter thieves can see returns of around $150 to $1500 for a catalytic converter, depending on the type of catalytic converter stolen. Scrap yards will buy them and have their metals recovered to sell again.

How do stolen catalytic converters make money?

Rhodium could sell for an average of $18,000 per ounce in 2021, at one point during the year selling for as much as $26,000. When a catalytic converter is stolen, these precious metals can be recovered and sold. There are some companies that will purchase converters and pay anywhere from $140 to $1,500.

Is it worth reporting a stolen catalytic converter to insurance?

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.

How are stolen catalytic converters sold?

Thieves steal these devices and sell them on the black market where they are later harvested for their precious metals at illegal processing facilities. The cost to replace a catalytic converter ranges between $500 and $4,000 depending on factors such as the type of vehicle you own and your insurance coverage.

Understanding the wave of catalytic converter thefts

How long does it take to steal a catalytic converter?

Stealing a converter takes just a few minutes and a battery-operated saw. "You slide under the car, slice through your exhaust system, and you're in and out usually within 30 seconds to a minute," Glawe said.

Do you call the police if your catalytic converter is stolen?

If you find your catalytic converter is missing, you should immediately contact the authorities. They will check local security cameras and work to see if they can help catch the person who stole your converter. Additionally, a police report may be essential to your insurance coverage.

What are thieves after when they steal catalytic converters?

Reported catalytic converter thefts increased by 325% between 2019 and 2020. The reason for stolen converters is the explanation behind any theft — money. The rhodium, palladium and platinum used in these parts are valuable, and rhodium can go for $20,000 per ounce, according to the National Insurance Crime Bureau.

What cars are hardest to steal catalytic converter?

American cars such as Jeep, Chrysler, Ford, Dodge, and Chevrolet are least likely to be targeted as they have less valuable converters. Nissan, Mazda, Subaru, and Hyundai also limit the amount of precious metals used in the converter designs.

What cars are most targeted for catalytic converter theft?

Which state has the most catalytic converters stolen?

California is coming in at number one with the highest amount of catalytic converter thefts across the country according to a new report.

How much are catalytic converters worth thieves?

Criminals target catalytic converters because they contain expensive precious metals like rhodium, platinum and palladium. Thieves can expect to get anywhere from $50 to $300 if they sell the converters to scrapyards, which then sell them to recycling facilities to reclaim the precious metals inside.

What is the street value for a catalytic converter?

Typically, a reseller will pay anywhere from $50 to $250 for a catalytic converter. According to the Universal Technical Institute, a typical converter will include between three and seven grams of platinum, between two and seven grams of palladium, and between one and two grams of rhodium.

Where do stolen catalytic converters end up?

Stealing a catalytic converter is easy: Thieves slide under the car and slice through the exhaust system using a battery-powered saw in 30 seconds to a minute, Glawe says. They then sell the part to a scrap metal yard for between $150 to $300.

Who pays the most for catalytic converters?

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.

How fast do thieves steal catalytic converters?

Catalytic converter theft is also common because the component is mounted beneath the vehicle, making it easily accessible to thieves. With the proper tools, thieves can remove a catalytic converter in less than two minutes and profit handsomely by reselling it.

What is the easiest car to steal a catalytic converter from?

The common consensus seems to be that the Prius, Tacoma, Lexus SUVs, and the Accord are some of the most targeted cars for catalytic converter theft. So if you own one of these, make sure your car is locked up safe and sound.

How do you stop criminals from stealing your catalytic converter?

Can your car run without a catalytic converter?

Without the catalytic converter, your car won't perform as well as it would if it were equipped with one. Without a cat, the oxygen sensors installed before and after the cat will not operate within range. Engine fault codes will be generated, and engine performance will suffer as a result.

Can a car run after catalytic converter theft?

Can you drive your car if your catalytic converter is stolen? If your catalytic converter is stolen, it won't be hard to tell. “The vehicle will be drivable,” Glawe said, but “it's going to sound just like it doesn't have a muffler on it. It's going to be very loud.

Is stealing catalytic converters a federal crime?

It establishes a federal criminal penalty for the theft, sale, trafficking or known purchase of stolen catalytic converters of up to five years in jail.

How much is a single catalytic converter worth?

The average catalytic converter ranges between $800 and $1,200, depending on the vehicle's make and model. In general, the larger the engine, the more expensive the converter.

How much is a Ford F150 catalytic converter worth scrap?

In general, many organizations will pay between $200 and $750. Much of this price comes from the platinum in the converter, so an in-tact or newer F150 catalytic converter will scrap for more.

Why are thieves stealing catalytic converters?

Today, catalytic converters are worth more than gold – literally. Platinum, palladium and rhodium are each worth thousands of dollars per ounce. Catalytic converters typically have just a few combined grams of these metals. That would still fetch a price of at least a few hundred dollars, possibly up to $1,000.

What converters are worth the most?

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.