That depends on the engine and the fuel you've used. If the engine starts burning oil a catalytic converter can fail rapidly. Some fuel additives can also cause a catalytic converter to fail prematurely.
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A OEM converter should bolt in exactly like the original, an after market may have to be cut and welded in.
The catalytic converter is always in front of the muffler. Somewhere in the first third of the exaust system. Varies car to car.
That code means that the oxygen sensor downstream of the catalytic converter on bank 2 is detecting that the converter is not working as efficiently as it should be. It could be a bad oxygen sensor, a bad catalytic converter or and exhaust leak.
Not likely because: Code p0420 refers to a problem with your catalytic converter. The engine computer is able to test that converter by using an oxygen sensor before and after the converter. The computer can only test the converter under very specific driving conditions. If the computer determines that it is a good time to test the catalytic converter it will run the test. It compares the oxygen sensor readings in front of the converter to the readings behind the converter to see if the catalytic converter is functioning properly. If it is not functioning properly it will trigger a p0420. Sometimes if a catalytic converter is on the virge of failing it may fail one test and pass the next. This will cause your check engine light to come off and on every once in a while when the test is performed.
You may have two- one in the exhaust manifold/downpipe, and the other just past the catalytic converter.