To pass the MOT requirements your indicators have to blink at 60-120 per minute. 1-2 times per second. Some people have found that swapping the standard filament bulbs for LEDs makes the indicators blink too fast. You can fix this by adding a resistor but the neater solution is to replace the relay controlling the indicators. Anywhere that sells LED indicators should be able to sell you a suitable relay if you find you have this problem. Like Maxwell says, you have to put them on and see.

You'd have to be more specific about where on the exhaust the leak is.

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