1991 cadillac, chip in key

Anyone,

I have a 1991 cadillac coupe seville that has the security feature of the chip in the key.  Well, apparently the sensor that reads the chip has gone bad and my car is stuck in a dealers parking lot.  I just happened to be near the lot when the problem occurred.  Car just won't start.  Dealer wants $500 to fix the problem and give new keys.  Is there a way to bypass this circuitry so that the computer does not have to see the chip to start the car.  I'm buying a new car and just don't want to spend a fortune on this one although it still runs very well.  Any help or directions would be appreciated.   I read something about placing a resistor within the circuit to bypass, but don't know if thats a viable option.  Thanks in advance.

the stuff you read is correct. the first thing to do is find your key r-code or resistance. next, drop the underdash panel, look for a orange wire

that kind of looks like telephone wire running along side your steering collum. cut this wire in half . you should find two tiny white wires inside this telephone looking wire. find a resistor that reads the same as the pellet on     your key .carefully strip the two tiny wires that are inside on the cut half opposite your steering . connect the resistor between these two wires and your done. i hope this helps some.