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For a couple of decades now, catalytic converters have been pivotal in the fight to curb global emissions. Layered with platinum group metals – namely, palladium (Pd), rhodium (Rh), and platinum (Pt), these nifty pollution-curbing devices convert harmful pollutants into eco-friendly gases. Today, over 98 percent of gasoline-run automobiles sold in the world, from small cars and motorcycles to large tracks and mass transit buses, are fitted with exhaust systems complete with catalytic converters.

With that, catalytic converter recycling is huge right now, and is the biggest secondary source of precious platinum group metals (PGMs). In fact, PGMs constitute more than 95 percent of scrap catalytic converters. Because these precious metals are scarce, that means one thing: you can fetch good money for your recycle catalytic converter. After all, catalytic converter recycling is an industry that rakes in over $3 billion annually.

Where to find a catalytic converter buyer who’ll pay pretty dollar for your scrap cats? Below are some tips that can help you get top catalytic converter scrap prices.

First Things First: What Are your Catalytic Converter Recycling Options?

In practice, every catalytic converter buyer should provide you with one of the following three options depending on how many cats you have:

(1) Direct Purchase: This option means that your favorite catalytic converter buyer will purchase your precious metal-bearing devices based on their catalog. It is the easiest route to getting quick money for your scrap catalytic converters. The buyer will typically evaluate the scrap catalytic converters on site, check documentation, and pay you upon collection.

(2) Fast Settlement: This is a perfect choice for you if you want to recycle only a few catalytic converters. In other words, it’s an ideal option for small quantities. Even still, you will have to deliver them for processing and lab analysis. You might have to wait for around ten days for analysis results to come out before getting paid.

(3) Toll Refining: This is a long-term catalytic converter recycling option. While it might take longer, it’s your best bet at getting the best catalytic converter scrap prices. Before getting full payment, your cats will be thoroughly analyzed, smelted, and matured to yield PGMs. The good news is that you can receive down payment once your cats have been analyzed.

Tips for Getting Good Catalytic Converter Scrap Prices

Go for an Experienced Catalytic Converter Buyer

An experienced buyer knows the ins and outs of catalytic converter recycling. This is a professional who can easily figure out metal-content and value of your recycle catalytic converter. Some buyers have even gone the extra miles and created apps that can help you identify your catalytic converter based on its features.

Check Market Prices of PGMs

Keep a tab on market prices of the three precious metals. This way, you can know if the catalytic converter buyer is ripping you off.

Check Online Price Catalog

Most buyers of scrap catalytic converters provide a handy online catalog that lists the brand and what they’ll pay for its catalytic converter. Use this catalog for your research and choosing the right catalytic converter buyer.