Engine light blinking... What could be wrong with car??????

It could be an engine misfire, or some other fairly serious problem.

The good news is that a misfire is serious in terms of your car's performance, its not always a huge repair. it could be something as simple as a failing spark plug, weak spark from a failing ignition coil, clogged fuel injector or some other relatively easy fix.

But since there are several possible causes, you should not go out and just start replacing random parts. Get a proper diagnosis from a professional mechanic. The cost of a diagnostic inspection is cheaper than guessing wrong on one "possible" repair.

If this only happens when you accelerate hard, then I would go ahead and drive it to the mechanic, just take it easy on the gas pedal. If it happens non-stop whenever the car is running, it would probably be better to have it towed or to hire a mobile mechanic to come to you.

Does this 'car' have a manufacturer, model, or year?

Details people.

Normally a flashing check engine light means that the engine is misfiring badly and that you need to stop driving the vehicle immediately. Now there are several things that could cause that, like worn out sparkplugs for an example. But it needs to be fixed ASAP!

Anyhow, this can cause damage to the catalytic converter. It's not that the catalytic converter is the problem. But it will soon be a problem if you don't fix it. In fact the catalytic converter may heat up to the point of catching on fire and burning down the car.

That's why the check engine light flashes. If it was on without flashing, that means you should take it into a mechanic whenever you get a chance within the next month or whatever. But if it's flashing, that means find a place to pull over, shut off the engine and call a tow truck before your car burns down.

A whole host of things COULD be wrong with the car.
A FLASHING CEL means it is something serious which needs immediate attention.
Therefore get it to a competent mechanic immediately.

First things first, have the computer scanned for codes. Don't spend all your money on parts it "may be" with out a proper diagnosis. Which after getting the codes, will require a bit more narrowing down too.

The CEL doesn't come on and blink when your ATF is low.
The first thing to do when the CEL is flashing is replace the spark plugs. A blinking CEL is a misfire 99% of the time. If it still happens after replacing the spark plugs then ply wires are next to be replaced if your motor has spark plug wires.

Try to pull the codes. This will give you an idea of what to check first.

A flashing light means a misfire, nothing more. That of course could be caused by many things, none of them being the catalytic converter. Driving it as it is can and will cause more damage. Only hooking up a scanner will tell you what to look for. Guessing it's the catalytic converter will do nothing but cost you loads of money

None of us can guess, and why should you just guess when OBD2 will tell you what's malfunctioning. Do a code check with a code reader. If you have a 2000-2005 Honda, that is expected transmission failure. Needing to add transmission fluid indicates a leak, since the fluid doesn't get consumed. Adding fluid without checking the level is reckless, since too much transmission fluid can damage the unit.

The Check Engine light has a purpose.

Now your task is to have the car computer interrogated and find which trouble code is stored.

Large automotive parts stores do this for free. I think that you should go there today.

p.s. The check engine light means that the car computer wants to tell you something. It will tell you in the form of a fault code. The blinking check engine light means it's a serious problem and you should stop driving. The blinking light can mean there is a problem with a misfire, and indirectly it means that raw gasoline may be in the exhaust system, which could quickly DAMAGE your catalytic converter. It doesn't mean that the torque converter is the problem. The check engine light means that the computer has stored a fault code. It's like somebody is ringing the doorbell. So go see who it is!

Read this:
http://motorist.org/articles/check-engine-light

It could be your fuel line is sucking in air (or whater from Vuvu knows where). How interesting that someone who didn't even TRY to answer the questuion is "thumbing my 'it could be" down. This site seems to be full of lazy "armchair [well in this case] mechanics" who probably do ridiculous things like light a match to look inside of a gas tank or pour battery acid into their eyes to "see if it's fresh".

Faulty ignition coil.

More likely the TPS (throttle position sensor) is worn out failure on a older TBI style spray injected OBD1 system.
The CEL for the up and down stream O2 sensors would stay on for more then 10 seconds and be more consistent.

it could be that the fuel isn't getting to the engine have you checked if the fuel lines or fuel pump are blocked? if not it could be that the car has a bad misfire and if this is the case either fix it yourself or get a mechanic and get it fixed ASAP

http://ricksfreeautorepairadvice.com/check-engine-light-on-part-i/

See a mechanic and check for stored trouble codes. Bad ignition, bad injectors, low compression, low fuel pressure, bad sensors are likely causes.

best to ask a TRAINED mechanic who will be better off diagnosing AFTER he has had a chance to examine the situation.

If the light is blinking take it to the shop immediately

You need a new engine, there is no way around this.

Needs a new fuel filter troll.

it sounds like you need a mechanic to check out the car, a converter is not cheap