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on the $50 part. I lost the original key for my truck and the copy refused to work, went in with my registration and VIN and they cut me a new one $2.50 IIRC but that is not a coded key, 95 Chevy. The coded keys are high and you did the right thing, no use paying that kind of dough when you get it cheaper elsewhere.
GM even gave me the key code to the truck, tossed that paper in the safe if I need it again.