Catalytic converters can be stolen in less than a minute. The current prices for precious metals are fueling this demand and converters contain precious metals. Rhodium sells for roughly $9,500 an ounce, while platinum pays at about $2,000. If sold for scrap, stolen catalytic converters go for around $100 to $150.
What Thieves Look For
Vehicles that sit higher from the ground, such as SUVs, trucks and pick-ups are the most vulnerable to catalytic converter theft because thieves can slide underneath without having to jack up the vehicle. Corporate fleets are more vulnerable because thieves can hit multiple vehicles in a single location.
Preventing Catalytic Converter Theft
- Have the converter clamped or secured to the vehicle's frame. A muffler shop can do this for you.
- Always park in well-lighted areas.
- Park within a fenced area that’s busy during the day and secured at night.
- Vehicle security systems set to trigger with the slightest motion.
- Check out the different types of catalytic converter theft deterrent systems at your local auto parts store or on the Internet.
Confirm with your broker that you are covered in case of a catalytic converter theft or any other metal theft affecting your business. For more information on protecting your business, contact knowledgebroker Rick Kalscheuer.
