Catalytic converter theft
The theft of exhaust catalytic converters for the precious metals inside, a crime that surged in the early 2020s.
Catalytic converter theft is the cutting of converters from parked vehicles to sell for their precious metals. Thieves can remove one in minutes, and the owner faces repair costs and lost use of the car.
The crime has led many states to require scrap buyers to keep records and verify sellers of converters. If you’re selling a junk car, expect a legitimate buyer to want the converter still attached to the car, along with ownership paperwork.
The National Insurance Crime Bureau reported in May 2023 that theft claims rose from 16,660 in 2020 to 64,701 in 2022, and that replacing a stolen converter can cost between $1,000 and $3,500 or more, depending on the vehicle.1
References
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National Insurance Crime Bureau, “Catalytic Converter Thefts Surge Nationwide, According To New Report” (May 10, 2023), https://www.nicb.org/news/news-releases/catalytic-converter-thefts-surge-nationwide-according-new-report ↩