It is not the key itself that is the problem. It sounds like the pass-lock sensor or its wiring has a problem. What do you have on the key ring along with the key? Anything?
Your car has the early pass-lock system, there is a magnet that turns with the ignition cylinder, this passes a sensor inside the ignition switch housing. That is the part that triggers the alarm on/off. If it does not get the signal for more than five seconds the light flashes and the car will not start. This is a sort of common issue. The repair is usually a replacement sensor inside the ignition switch assembly.
Unfortunately the only real way to tell if it is a failed sensor requires a scan tool that can watch the security system as it responds when the key is moved. Either a good shop or a dealer would have those. Then once the sensor or the wiring is replaced there is a ten minute relearn process using the same scan tool.
Tuesday, May 29th, 2018 AT 4:44 PM