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Sounds like the convertor is shot. Theres an 80K miles federal emissions warranty on the convertor. If you are under 80K, take it to the dealer. If over 80K, take it to a good independant shop.
That code can mean the catalytic converter is starting to wear out, BUT don't replace it yet. There are other reasons for this code. First check the wiring going to the rearward O2 sensor (the one behind the cat). This wiring harness has a long run that's not secured, and it tends to sag on the top of the cat and get burned. If a wire is burned open or grounded, that will also trigger the catalyst code.
Good point, but if the O-2 circuit was open it "should" be throwing a P-O136 "downstream O2 circuit fault." From what i've seen on other posts & read elsewhere, the P-0420 is a pretty good indication that the convertor is shot.
If you get catalyst efficieny code, the sensor works! 99% of the time the cat is the problem. It has lost it's ability to do it's job. Just so you know, I have had trouble with some aftermarket converters. Do a little research and ask and make shure they will stand behind the product if it does't work.
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