It seems almost silly to me that most cars have diagnostic software that is inaccessible to the consumer. Car mechanics will gladly charge you $50+ to simply connect a cable to your car to get a read out for you, but why can't I get it myself?
Dashboard lights (a.k.a. idiot lights) are a great innovation. You are warned if your critical fluids are low. This can save you a very costly repair. The information the car's computer supplies gives much more detail.
I've heard of Palm computer software that can interpret the diagnostic codes of most cars, but I think you have to build your own cable. It would be great to have such a device built into the car or at least as a simple add-on for not-so-tech savy.
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You can buy third party cables and readers pretty fairly I think.
My 1991 Dodge Caravan had onboard diagnostics- to access the computer's "trouble codes," I simply turned the ignition key on, off, on, three times, then the dash lights flashed a code. To interpret the code I had to buy an $11 manual.
My 1989 Chevy Cavalier had a diagnostic terminal under the dash- shorting out a certain pair of contacts, then turning on the ignition key also caused the dash lights to flash a code; again, to interpret the code I used an inexpensive manual.
All cars built today have such onboard diagnostics, you need to buy the appropriate manual for your car.