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What is a security resistor on 92 Chevy Camaro key?

There's no such thing as a "security resistor" on a 1992 Chevy Camaro key itself. The 1992 Camaro's anti-theft system, if equipped, uses a passlock system. This system relies on a resistor embedded within the ignition switch, not the key. The key's transponder chip communicates with the receiver in the ignition system. The system checks the code from the transponder against the code stored in the vehicle's computer. If they don't match, the car won't start.

The term "security resistor" is sometimes incorrectly used, or confused with other systems in different vehicles. There's no resistor in the 1992 Camaro key that contributes to the security functionality.