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How to protect your vehicle from catalytic converter thieves
Catalytic converter theft is not only on the rise, it’s spiking. It’s a lucrative theft that only takes seconds to steal. It’s such a problem that Carfax decided to try it out themselves.
ATLANTA - Catalytic converter theft is not only on the rise, it’s spiking. It’s a lucrative theft that only takes seconds to steal. It’s such a problem that Carfax decided to try it out themselves.
Carfax, which provides vehicle history reports and other car trend data, teamed up with an auto parts store to take out a vehicle's catalytic converter. The video shows a man easily slip under an older model truck with an electric saw and get to work. It’s noisy, but if you live in a city or busy area, that may go unnoticed."
"The trucks and the vans, in particular, sit high off of the ground, and they are easy marks," Patrick Olsen, Carfax's executive editor, told the FOX 5 I-Team.
Carfax reports that last year there were 153,000 catalytic converter thefts reported.
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Under that truck, the staged theft by an auto parts store employee took only 66 seconds. In just about a minute, a real thief walks away with precious metals: palladium, platinum, and rhodium.
"Palladium and platinum are trading for about $1,000 an ounce on the market right now," Olsen said. "But Rhodium is going for $10,000 an ounce."
Atlanta's vehicles tend to last longer because of our good, year-round climate. As a result, owners of older cars will often drop comprehensive insurance at some point and go with liability only.
"Liability insurance won’t cover this theft. So, you might want to consider getting comprehensive insurance because that will cover this kind of theft," Olsen added.
It costs between $900 and $4,500 to replace the catalytic converter. So to avoid being a target park your vehicle in a garage, use off-street parking, and navigate toward well-lit areas. And, if you’re working from home, be sure to move your car around. Don’t leave it in one spot. You don’t want it to look abandoned.
Auto dealers now are etching the vehicle identification number onto the cover of the catalytic converter itself. But it’s still not enough. When an easy target and good money only take a minute to snatch, it’s too good for some not to steal.
Law enforcement is trying to stay on top of this. Last fall the Justice Department busted a 21-person ring from nine different states.