What happens when car is stolen
#1
Contributors
Thread Starter
Join Date: Jul 2003
Location: Indianapolis, IN
Posts: 518
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: On Order:
2006 525i
Alpine White
Auburn Interior
Premium Pkg
Sport Pkg
Cold Weather Pkg
Xenons
Sunshades
Sat Radio
Navigation
With the recent theft of one our members' E60, I had to ask this question. With todays technologies and tracking of VINs and state licensing requirements, what happens when a car gets stolen. I guess, it would be two fold. What happens to high end/luxury cars when they are stolen in the US? What happens to high end/luxury cars when they are stolen in other parts of the world. I can't imagine with new cars they are broken down for parts or anything of that nature. And, I also assume their is a market for these vehicles and the thieves have a way to create new valid information for these cars, but I am completely naive in this area. Someone please enlighten me. And for anyone who has had their car vandalized or stolen, you have my deepest sympathy!
#2
i know some people just scratch off the vin and drive around . some take the cars apart and sell the parts . some just take it for a joy ride and dumb it in the middle of nowhere . and some (in other countries) just use their own boat to ship the cars to another country and sell them .
#3
Senior Members
Join Date: Oct 2004
Location: Garland, TX
Posts: 319
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2005 BMW 525i
Originally Posted by alohalc' date='Oct 24 2004, 11:48 PM
i know some people just scratch off the vin and drive around .? some take the cars apart and sell the parts .? some just take it for a joy ride and dumb it in the middle of nowhere .? and some (in other countries) just use their own boat to ship the cars to another country and sell them .
[snapback]48958[/snapback]
yeah, i have heard of those as well, the last reason in perticular, from the movie, gone in 60 secs.
#5
Members
Join Date: Sep 2004
Location: Toronto Canada
Posts: 122
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 04 545A Dynamic Drive Pkg (Active Steering; Active Stabilization) Sport Pkg, Premium Sound, CD Changer, Rain sensor wipers, Red Rear reflectors
I guess your insurance company will give you a new one if your car is stolen. At least that's what I've been told by my insurance company.
I'm cancelling my Boomerang tracking service after 1 year as it doesn't pay to have it for the benefits of the insurance company. Particularly there is depreciation protection for the first 2 years.
The other day I heard on the news that newer vehicles will be re-sold in the * local * used car market. Older ones are chopped up for parts!
I'm cancelling my Boomerang tracking service after 1 year as it doesn't pay to have it for the benefits of the insurance company. Particularly there is depreciation protection for the first 2 years.
The other day I heard on the news that newer vehicles will be re-sold in the * local * used car market. Older ones are chopped up for parts!
#6
Super Moderator
Join Date: May 2004
Location: FL
Posts: 18,253
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: F02 LCI Individual
Model Year: 2013
Originally Posted by Flowerfred' date='Oct 25 2004, 09:54 AM
The ones stolen on the continent mostly end up in Russia..
[snapback]49019[/snapback]
#7
Contributors
Join Date: Mar 2004
Location: Clearfield, Utah
Posts: 2,493
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Iceman' date='Oct 25 2004, 04:51 PM
[quote name='Flowerfred' date='Oct 25 2004, 09:54 AM']The ones stolen on the continent mostly end up in Russia..
[snapback]49019[/snapback]
[snapback]49085[/snapback]
[/quote]Isn't that the truth.
#8
Guest
Posts: n/a
My SoCal insurance agent says that 90%+ of the stolen cars are broken down and resold for parts (since the parts are worth from 5-10 times the cost of the entire car). As examples, he noted that Cadillac Escalades were the top stolen vehicles because the chrome wheels/tires can be sold for about US$10K (which is 20% of the cost of the entire vehicle); he also noted that recent model Nissan Maximas were a top stolen vehicle (or vandalized vehicle) because their Xenon headlights were particularly easy to remove and resell for $1K-$2K.
The only vehicles that are routinely stolen and resold are basically SUVs to drug dealers and other criminals in Mexico, Central and South America. Other than that, exotic vehicles (to the extent available) are stolen and resold to collectors and other aficionados.
Since the e60 is still quite new in the US market, we do not know yet if it will become a top 10 stolen vehicle for its parts (nor do we know if there are particularly valuable piece parts with high $ values that criminals can resell from stolen vehicles).
The only vehicles that are routinely stolen and resold are basically SUVs to drug dealers and other criminals in Mexico, Central and South America. Other than that, exotic vehicles (to the extent available) are stolen and resold to collectors and other aficionados.
Since the e60 is still quite new in the US market, we do not know yet if it will become a top 10 stolen vehicle for its parts (nor do we know if there are particularly valuable piece parts with high $ values that criminals can resell from stolen vehicles).
Thread
Thread Starter
Forum
Replies
Last Post
Awest91
E60 Discussion
20
09-17-2022 11:05 PM