Why are catalytic converters worth so much money?

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.

How much is a catalytic converter worth for scrap?

Catalytic converters' scrap prices range drastically, from just $25 for an aftermarket cat all the way to $1100 for large and rare models.

What vehicles have the most valuable scrap catalytic converters?

According to data from 2020, the most expensive catalytic converter belonged to the Ferrari F430, with a mind-popping $3,770.00 price tag. Moreover, the F430 needed two of them, so a full replacement would run car owners $7,540 before labor costs.

What is worth so much in a catalytic converter?

Catalytic converters contain trace amounts of precious metals, including platinum, palladium and rhodium, which in early March hit nearly $30,000 per ounce. “The problem is that they're just worth so much,” said Paul Dauenhauer, a chemical engineering and materials science professor at the University of Minnesota.

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.

How Much Is A Catalytic Converter Worth? Scrap Recycling Guide

What are the most stolen catalytic converters?

Why is stealing catalytic converters popular?

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.

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.

Which cars are least likely to have catalytic converters stolen?

American brands such as Ford, Chevy, Jeep, Dodge, and Chrysler tend to have less valuable catalytic converters and are therefore less likely to get stolen. Some Nissan, Hyundai, Mazda, and Subaru models also fall into this category. Many brands used cat designs that limited how many precious metals were inside.

Why do people buy catalytic?

Money is the main reason catalytic converters are often stolen. They contain three metals that aid in the chemical reaction that makes exhaust pollutants less harmful: platinum, palladium and rhodium. The prices of these metals have risen dramatically during the early 21st century.

How can I get the most money out of 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.

What happens to stolen catalytic converters?

In the current market, catalytic converters can be resold to recyclers for as little as $50 or to precious metal dealers for as much as thousands of dollars per ounce, reported the National Insurance Crime Bureau (NICB).

How easy is it to steal a catalytic converter?

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.

How much is the platinum in a catalytic converter worth?

A catalytic converter generally contains 0.1 to 0.3 ounces (3 to 7 grams) of platinum. According to Kitco, the bid price of platinum is $977 USD per ounce (April 9, 2022), meaning there is between $110 and $300 dollars worth of platinum in a typical OEM catalytic converter.

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.

What vehicle is the hardest to steal a catalytic converter?

Catalytic converters are inside the engine compartment of newer cars like Honda's 2015 Accord and Jazz models, making it more difficult for thieves to steal them. All the big car companies have converters that aren't worth a lot of money.

What year cars are targeted for catalytic converter theft?

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.

Does insurance cover stolen catalytic converters?

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.

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.

Why are Honda catalytic converters stolen?

Catalytic converters are often stolen because they are valuable to scrap metal dealers. These converters contain precious metals like rhodium and platinum.

What cars do they steal catalytic converters from?

How much is a Toyota catalytic converter worth?

Toyota catalytic converters' worth can range from $75 and $700 when sold as scrap. The worth of a catalytic converter can vary depending on the car's make and model. Some of the most valuable catalytic converters come from the Toyota Prius.

Can a car run without a catalytic converter?

As part of a car's exhaust system, the catalytic converter helps to reduce air pollution. You will not harm your engine or your car in any way by driving without a catalytic converter.

How do thieves sell stolen catalytic converters?

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.