Q: Catalytic converter/sensor replacements

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Hey my 2005 volvo v50 needs a new catalytic converter as well as a couple of sensor replacements. My mechanic is estimating $2500 for parts and labor, and says the converter alone is going to be like $1400. I live in CA so I know our smog rules are a bit more tight but this still seems like a LOT of money.

My car has 173000 miles.
My car has an automatic transmission.

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