For the second time since we have owned this 1998 Ford Mustang we have had trouble with the no start problem and the blinking theft light. I recall the last time this happened, my wife eventually stumbled upon the solution herself. After being temporarily stranded a few times, for some reason she one day decided to reach up under the dash. Below on the right side of the column there was a small wire harness with a little plastic plug.
The plastic plug end was burnt where it plugs into another connector. She only bumped it with her hand without seeing it, but it was enough to stop the theft light from blinking and get the car started. Later I traced the wires and found that went up the column to sensor with a ring called the transceiver. This ring senses the resistor or whatever it is in the $100 key.
The pats system on this car prevents the car from being stolen if the key is not the right one. The plastic plug on the end of the wire was not burnt this last time but the blinking theft light came back again after a few years. I replaced the transceiver again and it has corrected the problem, no more blinking theft light. The part number from Ford is F8ZZ-15607-AB and it cost us $46 in August 2011. I tried to cross the number myself and called around, I was not able to find the part anywhere but the Ford dealer.
The plastic plug end was burnt where it plugs into another connector. She only bumped it with her hand without seeing it, but it was enough to stop the theft light from blinking and get the car started. Later I traced the wires and found that went up the column to sensor with a ring called the transceiver. This ring senses the resistor or whatever it is in the $100 key.
The pats system on this car prevents the car from being stolen if the key is not the right one. The plastic plug on the end of the wire was not burnt this last time but the blinking theft light came back again after a few years. I replaced the transceiver again and it has corrected the problem, no more blinking theft light. The part number from Ford is F8ZZ-15607-AB and it cost us $46 in August 2011. I tried to cross the number myself and called around, I was not able to find the part anywhere but the Ford dealer.