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I have been doing a lot of interior work and disasembled the steering column to replace the ignition switch and the ignition key lock. When trying to install the ignition key lock the lock will not turn back to 'lock' or 'accessory'...something is impeding the race on the opposite side of the key lock. The rod to the ignition switch is not being impeded by the ignition switch.
on my 73, 4 speed manual, you can not turn the key back to the lock position untill you put the transmission in reverse. it was part of the state of the art anti-theft system from that year.
could your problem be related to a system similar to this on your 72?
I assume that you have a 1969 through 1976 Vette. They all have a steering column/transmission shift interlock system.
Place the lever on the lower end of the steering column in the full UP position. This will allow you to turn the ignition key all the way to OFF-Lock and ACC.
You should have a cable coming from your transmission that will shove the column lever to the UP position when the Automatic Trans is shifted into PARK or the Manual Transmission is shifted into REVERSE.
I appreciate the information. it was most helpful!
I suspected late last night that this might be the problem. When I bought my vette ('72 auto, 350) I noticed that the cable from the transmission was not connected to the lower steering column. The pin on the column that holds the cable was held in the up position by a coat hanger. When I reinstalled the dash wiring harness... then the dash... I connected the cable to the pin...my next step was the key lock....and my problems began.