Not So Grand Auto Thefts
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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...
UPDATED: Jun 29, 2022
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A car is stolen every 40 seconds in the United States.
There were an estimated 794,616 motor vehicle thefts nationwide in 2009, accounting for a total loss of $5.2 billion.
If a consumer with a new auto loan has their car stolen, or gets into an accident, insurance companies will pay for the current market value of the car, but not what a borrower owes a lender. If a driver prepared ahead of time and purchased GAP insurance, that would cover the difference in between the two numbers.
Not all consumers have this coverage though and it can make a big impact, especially for those who drive one of the top five stolen vehicles, as revealed below.
But fortunately, not every auto heist is well-planned either.
Loans.org compiled a top five list of our most entertaining auto heists, ranging from small-town crimes to large multi-million dollar operations.
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