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There is a hack involving lengthening the tube for the O2 sensor. I'm not entirely sure how that makes it read a passing emission level, but I'd be inclined to do that before I bought a new cat. BTW, are you sure it's not a bad O2 sensor causing the CEL?
At any rate, I'm in a county that doesn't smog. I'd just knock out the cat. I bet the combination of removing the cat and reprogramming the ECU to not do the rich/lean dance would boost fuel economy 5% or so.
I like to compare KBB with Edmunds. Usually Edmunds shows a lower car valuation, but sometimes it shows higher. That limited interest Facebook page might be a good place to snag some great deals since it gets much less attention. A great deal on Craigslist in the Portland area goes in an instant.
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