Here's your somewhat detailed solution:
Take a flat screwdriver and pop off the trim that surrounds the radio and heater controls. Oh yeah... the trim around the key hole has to come off also. Don't unhook the wires from the radio or the heater controls. You will need a small socket set or a good pair of pliers to take out 4 small bolts. One on each side of the radio and the heater controls. Be sure the car is running when you cut the yellow wire. There are 3 wires (black, white and yellow) wrapped in black cloth tape that you will have to "fish out" from under the ignition switch with your finger. You'll find the wires just about even with where the radio was. Again be sure the car is running then cut the yellow wire and leave the ends where you can find them in case you ever have to hook them up and cut them again! Theft light will come on and remain on forever. Radio is aggravating to put back in because you must line up a "male female" bracket correctly or the cover will not go back on...no big deal just look closely and you'll see the male fitting on the back of the radio and the female fitting inside the dash.
Or you could take it to the dealer and have your ignition lock cylinder replaced.
But, you don't need to pay the money at the dealer. Get a new key made. The theft light is activated because your key is worn and it doesn't recognize it. It takes exactly 10 minutes for the light to clear.
Chevy did not build a Malibu in 1995.
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