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Before replacing the flasher check all the light bulbs that are supposed to blink. A blown light bulb will cause that problem also! A blinking bulb has two elements in it, if the one that is supposed to blink is blown it may cause the problem you describe!
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Your local DMV should be able to confirm or deny weather or not it is HOT or if there are any liens on it. To decode the vin the best place to call is "Mustang Country" at 562-633-2393.