The flashing light could be caused by several things:
* Faulty Crash Sensor: This is a common culprit. The sensor(s) may be malfunctioning, sending false signals to the SRS control module. This is particularly likely given the age of the vehicle; these sensors can degrade over time.
* Problem with the Airbag Control Module (ACM): The ACM is the "brain" of the SRS. Internal failure within the module, due to age, corrosion, or power surges, is possible. This is a more serious issue, often requiring replacement of the entire module.
* Wiring Issues: Corrosion, broken wires, loose connections, or chafing within the wiring harness that connects all the SRS components can interrupt signals and trigger the light. This is especially common in older cars.
* Faulty Airbag(s) or Pretensioners: While less likely to cause a *flashing* light directly, a problem with the airbags themselves or the seatbelt pretensioners could be contributing to the system's failure and causing the flashing indicator.
* Clock Spring Issues: The clock spring is a rotary electrical connector that allows the steering wheel to rotate without breaking the airbag circuit. A fault in the clock spring is a common cause of airbag light issues.
What to Do:
Because pinpointing the exact cause without specialized diagnostic tools is difficult, do not attempt to fix this yourself. The airbag system involves high voltage and potentially explosive components. Improper handling could lead to serious injury or even death.
You should:
1. Take it to a qualified mechanic: Find a shop specializing in older vehicles or one with experience working on SRS systems. They'll have the diagnostic tools to read the fault codes (if any are stored), which will help them pinpoint the problem.
2. Avoid deploying the airbags: A malfunctioning system could deploy unpredictably, causing harm.
3. Don't ignore the light: Driving with a flashing airbag light means your airbags might not deploy in an accident. This significantly increases your risk of injury.
The cost of repair could range from relatively inexpensive (a loose connection) to very expensive (a new ACM). Get a proper diagnosis before agreeing to any repairs.