After getting his old navigation system ripped right out of his car, the victim got his insurance company to pay for a replacement. He drove over to the local car dealership where he got the same model installed back in his car. To his surprise, the settings on the new navigation system were oddly similar to his old settings. He then pressed a button on the attached five-CD player, and out came his old Johny Cash CD. All within the span of two weeks.
“You can’t make this stuff up,” Troy Police Lt. Robert Redmond says. “It’s stolen, he calls his insurance company, which tells him to take it into his local dealership for replacement. Between Oct. 21 and Nov. 3, it went from the thief to the fence to auto parts store to the auto dealer and installed back in his car.”
“The thief got his $300 and the fence sold it to an auto parts store for $1,000, and they turned around and sold it to the dealer for $1,300, and the dealer charges the insurance company $1,875 for the part,” Redmond says. “The cost is much higher: The total repair bill was $4,000 and some go as high as $7,000. These guys really tear up a dashboard.”
This example shows just how fast the world of stolen goods works, and for one lucky man, how fast his in-dash GPS navigation system traveled back to him. Thankfully for the victim, his insurance company covered the entire cost, but it shows how much money is drained, or made, by stealing and reselling just one car navigation system.