Why do thieves want to 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 are thieves doing with stolen catalytic converters?

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.

What makes catalytic converters so valuable to thieves?

The main reason that catalytic converters are stolen is because they're valuable to scrap metal dealers. They contain precious metals, including rhodium, platinum, and palladium.

How do thieves steal 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.

What is the value of stealing a catalytic converter?

Thanks to the increasing prices of the precious metals used in the production — i.e, platinum, rhodium and palladium — an ill-gotten catalytic converter can “typically” fetch between $50 and $250 when sold to an unscrupulous recycling facility, according to the National Insurance Crime Bureau (NICB).

Understanding the wave of catalytic converter thefts

What car has most catalytic converters stolen?

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.

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.

How can I prevent my catalytic converter from stealing?

Park in well-lit areas close to public entrances, regularly move your car's spot or use a closed garage. Install an anti-theft device. Install motion-sensitive lights and cameras in your parking area. Paint your catalytic converter to deter buyers – some local police departments even offer free programs for painting.

Can you drive a car if the catalytic converter is stolen?

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.

What vehicles have the most valuable catalytic converters on them?

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.

How much gold is in a catalytic converter?

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

How much is a catalytic converter worth in scrap?

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

How often are catalytic converters stolen?

According to the National Insurance Crime Bureau, which tracks crimes reported to insurance companies, the number of reported catalytic converter thefts increased from roughly 1,300 in 2018 to more than 52,000 in 2021, the most recent year for which data is available. That's an increase of roughly 1,215% from 2019.

Why do scrap yards buy catalytic converters?

Catalytic converters contain platinum, rhodium, and palladium. The metals are expensive, and thieves sell the converters to scrap yards for several hundred dollars per piece, depending on the size of the converter and the current rate on the metals inside it.

How do I know if catalytic converter is stolen?

The first sign of a stolen catalytic converter is incredibly loud vehicle noises. You will find that when driving without your catalytic converter, it will sound like your vehicle is roaring—especially when starting or giving it gas.

What kind of cars do Thieves target for catalytic converter?

While it's a no-brainer that we can expect the most popular models of cars and trucks to be prime targets for catalytic converter theft. According to a recent CarFax post, nationwide, 10 popular targets are: 1. 1985-2021 Ford F-Series pickup trucks (F-150, F-250, etc.)

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.

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.

What is the most valuable metal in a catalytic converter?

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 Prius catalytic converter worth scrap?

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 a Toyota catalytic converter worth scrap?

Toyota catalytic converters' worth can range from $75 and $700 when sold as scrap.

Is a used catalytic converter worth any money?

Are your old catalytic converters worth money? Yes, they are! Indeed, they contain some precious metals that are rare and valuable. Thus, consider recycling them instead of throwing them away!