A new catalythic converter typically costs $350 (material + labor). I paid $650 to have both main cats replaced on a Mercedes, which had a 5 liter V8 (much bigger engine than your Kia Soul).
I have 183k on mine here in the US. It's a V8. The forward Catalytic converter on right bank might need replacement (CEL light on). Front suspension bushings will need replacement from time to time. Otherwise, solid.
MagnaFlow high flow cats are quality and inexpensive
I have a 530d manual and with a simple decat, egr blank and remap it's faster than a 530i.
I have a newer magnaflow on my DC2 and I have no check engine lights. I also have a magnaflow on my golf that replaced a hollowed cat and it kept the old car exhaust smell away for about 5 years before I could faintly smell it again.
I've been running a magnaflow highflow cat on my oil burning honda and it still seems solid for the last 3 years, car doesn't seem choked up by it either...
After my OE cat went 'can of marbles,' and after a similar dealer quote, I went with a Magnaflow high-flow cat. I've had a persistent P0420 since installing it (with 2.25" Remus exhaust), so have bought a 42dd spacer for the rear O2 sensor.
Tha catalytic converter is only 6 months old, but it's ine of those crappy "direct fit" MagnaFlow units.
Last year, i had Argon Addicts make me a HFC pipe, which had the magnaflow 300cell ceramics. Only took 800 miles, yep, 800, for one of them to fail and fall apart. Had noticed the same noise.
Well I thought I would provide an update for people who need options later on. I barely drove the car the past few weeks and Friday I decided to take it for a ride. The catalytic converter had an awful smell like it went bad
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