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I have gone down the path where my '87 wouldn't start and diagnosed it as the key wearing and not consistently registering the correct resistance to the security system and refusing to start. I measured the key resistance and bought 3 small resisters which I soldered together. I installed them correctly and didn't have a problm with them until... today. My feeble atempt at soldering had, over the last 9 months, fallen apart with all the vibration etc. I've fixed it again but I've decided to go to rocklers.com and buy their SOS module. Their desciption is:
On occasion, your Corvette's VATS system may not recognize your key's code, leaving you stranded. The SOS is an inexpensive module that when plugged into your wiring harness simulates your correct key. Nothing shows to let thieves know your VATS have been bypassed. To order your SOS have your local GM dealer measure the resistance on your computer key (it will be a 1 thru 15 value code) and add that code to the part number (i.e. A9133-5, A9133-9, etc.).
I've measured the resistance and it's .682k. Does anyone know how to relate that to the GM 1 through 15 value?
99% of cars stolen are by bashing the column and jumping the ignition. I have a friend whose VATS prevented a theft. The thief didn't know vetts had VATS, so your car is a good candidate to be stolen. The correct solution is to spend your money on a new ignition switch, not an aftermarket VATS defeat module. I also own an 87 and I drive it everyday and am on my third ignition switch because the VATS contacts wore out. When a headlight burns out do you epoxy a flashlight onto the hood?
It's worth mentioning that GM redesigned the ignition switch & key to eliminate this condition. The new switch/key supersedes the OEM switch...But you still need to know the code to order the new style switch & key...