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In the car industry, if it's a valet key, then you can use it to open the door and start the engine but you cannot open the glovebox- equivalently, the center console. I had a key programmed for $60 in my area, cheapest of three dealership - A FIVE MIN JOB!
I don't have a valet key but that key looks like it has a transponder chip w/ the little nub sticking out parallel to key shaft.
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