Open the hood, and get someone to wiggle the steering wheel, and using a good torch, check the lower steering column joint, for any free play, or if you can hear or feel, the clicking, and check all the clamp bolts and nuts.
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Under the drivers side dash. Move your seat all the way back and tilt your steering wheel all the way up....then lay on your back and shimmy up underneath the steering column, with your back resting on the floorboard. Remove the cardboard cover that hides all the wires and steering column. The flasher is located up towards the steering column between the column and the center dash. It you have trouble locating it....turn your ignition to accessory mode, (the key position just before it engages the starter), and turn on the turn signal....you will hear the click click.....click click and find it immediately. It is a square/maybe slightly rectangular shaped box about 1 1/4" X 1 1/8" X 3/4" tall. It plugs into a receptacle that is on the end of a set of wires that are strapped to the side of the steering column. Hold the receptacle with one hand and grasp the flasher and pull it out with the other hand.
Assuming the steering wheel is not turned all the way to full and there is an excessive load on the lock cylinder, it sounds like the cylinder has failed. You may have to get a locksmith or mechanic to take the column apart and drill out the cylinder.
Yes its risky. Dont drive with that noise from clock spring.Its indication of its failure. I believe this is the "clockspring" -- the electrical cable inside the steering column that connects your steering-wheel-mounted electrical controls to the rest of the car. ("Controls" used be just the horn.) The cable wraps around the steering column so it can turn with the steering wheel. Sometimes it starts to rub and squeak.
The noise will be either the universal joint on the steering column or a component in the steering rack or outer tie rod ends, get someone to sit in the car and move the wheel slightly left and right and have a look and you will be able to see and hear where the noise is coming from
Pretty doubtful it is your steering column. When all the junk around it is stripped away, it is a simple steel shaft that connects the steering wheel to the steering box. You can do what no one online can do for you...Have someone turn the wheel and look at what is moving and what is not. Likely it's something major like the steering box or the chassis where the box is mounted that has failed. Whatever it turns out to be, it's likely to be obviously broken. (easier to find than a squeak or slight noise. When you find it, ask if you need help with the repair procedure!!! Good luck!!
Try this if steering wheel is turned slightly to one side meaning front wheels turn steering wheel to that sam side take strain off the lock in steering column and key should turn. I believe that the steering wheel is locked. If it doesn't work turn left or right and try again. Good Luck and contact if you need more help.