Thieves cutting catalytic converters and cashing in

Thieves move like smoke and are cutting people’s catalytic converters and cashing in.

It’s a process repeated more than 150,000 times last year in the U.S., according to CARFAX.

“Well, I think there’s been a huge explosion over the last three or four years,” said Patrick Olsen from CARFAX.

The number one most targeted car is a Prius. Its catalytic converter requires more elements like palladium, platinum, and rhodium. Palladium and platinum are going from hundreds of dollars an ounce to about $1,000 an ounce. Rhodium, though, is $10,000 an ounce. So those make for pretty appetizing targets for thieves, says Olsen.

The Prius is followed by the Honda Accord and CRV. The fourth is the Toyota Tacoma.

“Yeah. You know, it’s probably the most popular midsize compact pickup truck sold today and for all pickup trucks, given the fact that they said higher makes it easy for these too, you know why underneath and do what they need to do to move those catalytic converters quickly,” said Olsen.

The rest of the list is the Ford F series truck, the Subaru Forester, the Toyota Camry, Ford’s Econoline and Explorer, and rounding out the list the Nissan NV.

Patrick’s advice is to get a converter anti-theft device.

Etch your car’s Vehicle identification number on the device and get the right insurance.

“If you only have liability insurance, you may not be covered if your catalytic converter gets stolen. And that is a $2,000 to $4,000 replacement. So, you know, if you’re in an area that’s being targeted, I would strongly consider thinking about getting comprehensive coverage, which does cover that kind of theft,” said Olsen.