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Yes, it's just a basic alarm system. I had one on my SC300, but I eventually bought an aftermarket alarm for more protection. You won't need to buy another alarm unless you want a new one.
Eh, I don't know if i'd call it "Basic". For 1992 the factory alarm system was leap-years ahead of anything in the States. I can't think of another car with a hood/trunk switch in the early '90's.