anti theft problem on 1992 Cadillac Eldorado

I have a 1991 eldorado and it won't start because of anti theft it tells me to wait 3 minutes and when I do it still won't start and it tells me again to wait 3 minutes what could the problem be?

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3 answers
u need a new chip in the key ionce the metal on the chip is wore down it will start to do this.
had same problem the ignition switch has 2 white wires inside the steering colum by switch thats where it breakes over time to repair i took steering area apart with some special tools like allen star shape for air bag 4 screws behind the steering philip screwdriver and a steering pully after all that saw the broken wire reatached problem solve before you start doing it disconnect battery or check if relays are bad by driver side step covering there are2 relays could find in used parts cheaper
The problem with your 1992 Cadillac Eldorado is most likely a broken wire in the steering column at the ignition lock cylinder. Please use the following link for more information - http://repairpal.com/gm-vats-vehicle-anti-theft-system.