Catalytic converter theft is on the rise in many parts of the country. The converters contain precious metals such as palladium, platinum and rhodium. With these metals trading at record levels, converters have become a hot item for thieves, and can be sold for up to $200 per converter.
These converters can be stolen in less than a minute, and also thieves do a lot of damage to the car when they do steal it. Taking a few precautionary measures may deter thieves from attempting to steal your catalytic converter.
Replacing a catalytic converter is expensive. The cost can range from $200-$900 but the costs don’t end there. Repairing a damaged exhaust system, which is often necessary following a converter theft, can run over $2,000. By preventing catalytic converter theft not only you’ll save yourself money, but also others in the form of lower insurance premiums.