It feels good to give to those less fortunate. Late last night we gave our catalytic converter to someone that obviously was struggling more than we are. Now we have an opportunity to support the economy by purchasing a new converter and paying for the services to have it installed, that will give us all the good feelings. We also get to make a police report and an insurance claim so two more industries we get to support. This was our second attempt to share our catalytic converter, the first time we were not successful but we were left with a jack. I wonder if scrap metal yards were regulated to record their purchases, possibly the ones that are given the converters could provide a receipt for taxes.
So many benefits to helping the less fortunate, we feel so privileged to have been able to donate our catalytic converter last night.
Catalytic converter thefts are up over 400% over last year, SUVs are the vehicles most often stolen from. Because of the frequency of converter thefts and the cost to the insurance companies, the insurance companies have been discussing not covering the cost of replacing stolen catalytic converters. Insurance companies have added a betterment fee to older vehicles of 20% of the cost of the replacement converter, that can add $500 on top of the deductible to the vehicle owner. Vehicle owners are waiting eight weeks or more to have their vehicles repaired. Metal scrap yards continue to purchase catalytic converters for the precious metals inside, supporting the growing number of thefts, while leaving vehicle owners paying and supporting both of them. Locally, The Scrap Metal Accountability Act was proposed in December 2021, the Scrap Metal retailer will have to record purchase transactions and will not longer be allowed to pay out cash on some metal purchases. The act is an attempt to stop or slow, the quick theft for cash.