Also, the new, high efficiency metal matrix catalytic converters (ie. on new Mercedes, BMW), aren't worth nearly as much as scrap as the old ceramic monolith type.
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Understeer is when you hit the wall with the front of the car and oversteer is when you hit the wall with the rear of the car.
Horsepower is how fast you hit the wall, torque is how far you take the wall with you.