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the trunk will open using the dash switch but the black key fob will not. Does this mean its time to buy a new key, or is the another solution?
if you go to your local oreilley's/autozone/etc they usually have a remote tester. It will blink an led if your remote is sending a signal. Try that with your trunk button and if it doesn't work, you will probably need a new key. That said, i can't think of anything but the key that would cause what you're experiencing.