What will happen if I delete the cat on my truck. It is plugged up and need of replacement, but im short on cash right now and new ones are spendy. I dont have emmisions here so thats not an issue. What would be the effects of cutting it out?

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2000 FORD RANGER XLT 4x4 Extended Cab 3.0L FFV
Flareside Bed
ACCESS Tonneau Cover-LEER Fiberglass Topper-Manik Brush Guard-Pro Series Hitch
Kenwood Amp and Sub-Sony Deck