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I purchased a 2002 F150 a couple of weeks ago and the air bag light flashes and then stays on. I ran into the guy I bought it from today and he said he was told it was the air bag on/off switch gone bad.
Well that is not my problem. This is.
My Dad has a 2001 Mazda B3000 (Ford Ranger). So I took the switch out of his truck to see if that would solve the problem on the F150. It did not and now after installing the switch (twice) back into the Mazda which was working perfectly fine it started flashing and won't go off.
When you turn the air bag on and off, does the light come on right above where you put the key in? You're getting a code 27, which would indicate a burned out bulb, and it will affect the operation of your air bag system.