When you set a P0420 what set this code is the downstream 02 sensor or the catalytic monitor sensor . If you hve a scan tool with live data check the 02 sensor , Sensor 2 if the H02S is below 650mv you need a catalytic convertor.
Here the downstream or Sensor 2 is used to monitor the catalytic convertor
Another downstream H02S sensor monitoring the catalytic convertor
A good catalytic convertor , the H02S would stay above 650 mv.
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