Originally Posted by Lemondrop
The ignition lock itself works fine , the thing starts and every position of the lock works . The problem is the outer "ears" that you insert the key through . It spins independent of the ignition key and makes the interior dinger keep running unless you thumb it to the correct "off" spot .
Do I have to give up my factory keys to change the thing out , or does the lock cylinder come out of there ?
This is a common problem with that type or design of ignition cylinder. The same thing has happened on my 1994 Bronco and my 1994 Cobra (and I have heard of it happening on many other Ford products that used that same cylinder design).
You have to go to your local Ford dealer and order a new ignition cylinder for the Mustang. I know because I've tried to get the same part from the local auto parts stores, however, they only seem to have chrome units OR they don't have them at all. The one in my 94 Cobra is BLACK, so I wanted the same part and went to Ford to buy it. The cylinder did come with keys, but, I wanted to retain my original key.
So for the Cobra:
New black Ford ignition cylinder w/ keys = $60+
Local Locksmith to match new lock cylinder to original key= $20
Now, for my Bronco, the parts store HAD the black ignition cylinder w/ keys. So, with the Bronco, I just purchased the parts store ignition cylinder and replaced it and retained the NEW keys. I did not care too much if I have multiple keys for the Bronco, as it's my "beater/winter" vehicle.
The part is easy to replace on both vehicles, but takes time in doing so because you have to dismantle the steering column plastics in order to remove the ignition cylinder.
Best of luck!