I also never watched Seinfeld
I’ve seen all the Seinfeld episodes, but believe it or not never seen a single episode of Friends.
I’ve never seen Friends, either
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db4690 … you’ve never seen either Seinfeld or Friends? That’s pretty unusual for the typical American tv viewer. Do you watch any other TV shows instead? Or just don’t like tv viewing in general?
I don’t tend to watch the shows that are the most popular
Here’s a list of other hit shows I never watched
Survivor
Dancing with the stars
American idol
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All I can say is “Your Loss…” the show put today’s events into a much better perspective… The show was about absolutely nothing as Jerry, George, Elaine, and Kramer, went about their meaningless, directionless lives not caring aobut anyone or anything except themselves…
Just take today’s news (only Domestic News…) into account: Border Crisis, Afghanistan Withdrawal, Energy Dependence, COVID-19 Mandates (Masks/ No Masks/Inoculate Children or Not), Crime Surge (Police Afraid to Police…), Rising Inflation, War on Parents, etc…
Just as important to the American Public (if you believe the Bobble Head News Reporters…): Cost of Kourtney Kardashian & Travis Barker’s Wedding, Depp verses Heard’s Verdict (Johnny won…), Kim Kardashian and Pete Davidson “Talk Future Plans and Moving in Together” , etc…
I remember back in the late '50s and early '60s when the family sat around the TV watching Walter Cronkite (yeah I know he was not perfect, but he made you think about things that mattered…).
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Wrong you are .
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Everyone’s entitled to their opinions
I’m old enough to remember that the “good old days” weren’t great for everybody
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Db, I have a book you would like. It’s called “the good old days, they were terrible”. It’s available on Amazon.
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Adjusting points and valves several times a year
poor handling
Much worse fuel economy
lousy radios
most cars were fairly spartan, versus today’s cars
Plus I seem to remember many cars of yesteryear had mediocre paint right off the showroom floor
Yeah . . . the “good old days” 
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At this mileage it is not uncommon for an O2 sensor to fail. I would have a mechanic check the real time readings from the O2 sensors while the engine is running. Best case scenario, a quick change of a worn out sensor results in the P0420 going away and the C1201 will clear as well once the readiness monitors for the emissions system reset and cycle.
Next best case, the catalytic converter is bad and must be replaced. This is more expensive but should shake out like the first scenario.
In my experience with Toyotas, one of these two scenarios is most likely. Either way, it is possible that the failure of a sensor or converter was coincidental and the dealer did not intend to sell you a car with an emissions issue. Did your pre-purchase inspection involve having a code scanner attached to the car to read stored codes and readiness monitor states? If the car was having issues such a scan would have revealed it prior to purchase.
The disaster scenario (and most unlikely) is that there is really something wrong with the catalytic converter AND you have an ECM/ABS issue that must be repaired. If this unlikely scenario has occurred I would work with the dealer to try and get them to share the repair cost with the understanding that they are under no obligation to pay for any repairs on an “as is” sale. But it would be a nice goodwill gesture on their part to help you out (and would increase the chances you might buy and service a car there again in the future).
Best of luck!!!
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That is true, but let us not forget that Rav and Camry 4-cylinder engines of this era had defective piston rings, and that led to very high oil consumption after ~90k miles.
If the OP’s Rav-4 has that notoriously-flawed 4-cylinder engine, I really hope that he is checking the oil every few days because consumption of 1 qt every 300 miles is typical of those engines after ~100k miles. By 175k miles, it is entirely possible that the OP’s P0420 code is related to a catalytic converter that has been essentially destroyed by having to “eat” the oil smoke from the exhaust.
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My truck is from that era. Never found adjusting the points much a burden, and no valve adjustments needed, but the poor handling is definitely a noticeable trait. I didn’t really notice this as a problem until I bought my late 70’s VW Rabbit. Day and night by comparison.
Reality shows, I’ve never seen any of those three shows either. Not really a reality show viewer. Is Pawn Stars a reality show? If so, I admit I’ve seen and enjoyed that one. I’d say Pawn Stars is less reality show, and more of a show that caters to a hobby.
Owning a pawn shop is a hobby? I’d bet thousands of pawn shop owners would disagree.
Back to the OPs post.
Options: take it to an indecent muffler shop or mechanic, have the catalytic converter and O2 sensors replaced.
That will take care of the P0420 error.
May (Testor will know better) take care of the C1201 error.
How does a Indecent muffler shop stay in business ? 
Naked profit🤪. They specialize in stripped down models.
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If–as I suspect–the engine is burning an excessive amount of oil, the new cat and O2 sensors will need to be replaced again after just a few years.
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True, but will get him through his county vehicle inspection.
Their main business is buying and selling gold/silver.