Why Thieves Target Car Parts for Theft: Understanding the Attraction

Are you familiar with the old adage that 'something that can be sold for parts is worth more than a complete item'?

The High Value of Car Parts

Years ago, there was an interesting article in a car magazine discussing the value of a new Corvette as purchased from a dealer vs. the value of that same car if it was stripped and sold for parts. The parts were reportedly worth 30 to 50 percent more than the whole car. This alone is a compelling reason why thieves target car parts for theft.

Motorcycle Parts and the Profitable Side Gig

Motorcycle parts present another avenue for thieves. A friend of mine had a friend who wrecked a sport bike that was not insured and had no funds for repairs. My friend bought the bike for around $500, stripped it, and sold the parts on eBay for approximately $2500. He eventually turned this side gig into a full-time business, making more money from parting out wrecked bikes than from his day job. He then quit his job and made car parts his primary source of income, demonstrating the potential for profit in this area.

The Economics of Car Parts and Vehicle Profits

Car companies typically make significant profits through ongoing service and parts sales. A 30,000 car has parts worth about $120,000 at retail. This massive markup is one of the ways car manufacturers ensure ongoing revenue from their customers.

Tracing and Valuing Car Parts

Parts are integral to a car's identification, with the VIN attached to several major components. Thus, they are nearly impossible to trace, making them a prime target for thieves. The used car parts market is massive, with platforms like eBay facilitating the trade of these parts.

Accessibility and Convenience for Thieves

Another reason car parts are easy targets is the accessibility and convenience for thieves. Cars are typically parked outside and left unattended. Owners do not stay awake and watch their cars 24/7, creating opportunities for theft. Furthermore, parts are not traceable, and they can be sold easily in multiple locations.

It's worth noting that similar trends can be observed in other valuables. For instance, a recent news report mentioned that people in California are stealing fire hydrants and selling them for scrap. Who in their right mind would buy a fire hydrant from an individual? This further emphasizes the exploitation of the seemingly untraceable and high-value nature of these items.

Conclusion

In conclusion, the high value, untraceability, and easy accessibility of car parts make them an attractive target for thieves. Understanding why this happens can help in developing effective prevention strategies and laws to curb this form of crime. The ongoing market for used car parts is a testament to the widespread and lucrative nature of stolen parts in the modern automotive industry.