A wave of catalytic converter thefts is sweeping Iowa and the nation. Here’s what you need to know.

It’s a device that’s installed on most gas- or diesel-powered vehicles. Mandated in the U.S. since 1975, catalytic converters contain catalytic materials that neutralize about 90% of the harmful gases in engine exhaust that contribute to smog. Ceramic Vs Metallic Catalytic Converter

More:Catalytic converter thefts are sweeping Iowa and the nation. Here's why

The catalytic converter is usually on the underside of the car or truck as part of the exhaust system, situated between the engine and the muffler. It looks something like another muffler.

Because it contains small amounts of some very expensive, very rare metals — usually platinum, rhodium and palladium. The price of those substances has been rising: Rhodium was selling for more than $29,000 an ounce on Wednesday. Even if a thief’s goal isn’t to extract those metals, used catalytic converters can fetch a good price from junkyards and scrap dealers.

A lot. Depending on the configuration of your vehicle, a replacement can run up to a few thousand dollars. Some people opt to replace a missing or faulty converter with a length of regular exhaust pipe. But that’s 1) illegal; 2) will prevent the vehicle from passing emissions inspection in the many cities and states across the country that require them; and 3) will allow the car to emit the pollution the converter was there to prevent. Driving without a catalytic converter also may damage your engine.

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Catalytic Converter Honda Fit The simplest solution is to avoid parking your car or truck in a place where someone could, unobserved, crawl underneath and remove the converter. It’s a quick job for an experienced thief. Other steps you can take include having the converter welded to your car so it’s harder to remove; engraving it with your car’s vehicle identification number so it’s easier to identify as stolen property; spend a few hundred dollars for a special clamp or cage that will make removal far more difficult, discouraging a thief; or invest in a car alarm that is sensitive to the vibration of a converter being sawed off.