So i bought my 2000 Prelude Base about a weeks ago. It only came with a Valet and 1 Master Key with a Keyless Fob. The Master key wont turn over got it to work once. Only Valet works to start car. I also read the there was a Red Key? Since this car has a type 1 Immobilizer im I really looking at a $200 dollar bill for a new Key?

 

unless you remove the immobilizer from the ecu.

 

Buy a T5 key and bring it to your local Honda dealer along with your set of keys. They can cut your key by VIN and copy the code from the old key. Unless the reason why your old master key isn't starting because the chip is messed up, I'm not sure if they're able to copy it off the valet key.

 

Another option is to use an OBD1 ECU with a conversion harness to disable your immobilizer.