Originally Posted By: ford46guy
Now that the outer skin is compromised the parking brake cable inner spring sheath will rust internally (if it isn't already) and eventually lock up the cable. It may not release and ruin you rear brakes. Not an emergency, but worth changing. It wont apply either. If you live in a state with inspections they love to fail you over that. Hate to say it but after market parking brake cables don't last too long, but it may depend on the application.
That's a great point. The plastic sheath damage can be sealed with 3M rubber tape, its self vulcanizing so it is permanent.