Latest update. I was cleaning some stuff up on it the other day and decided to check the air filter. I pulled the top off and just about passed out from the smell, something in there had been dead for a while! I popped the filter out and found a dead mouse, I'm thinking the culprit of the damaged wires. He had started to decompose and his hair is all over the filter, so now I gotta learn how to clean that. I decide to wash the air filter box to remove the smell. I saw there was a drain hole in the bottom so I sprayed it out, but it didn't drain. So I figured it must be clogged, I tried to clear it with a stick, then realized it wasn't an open drain. I then removed the entire air filter box, which takes some doing. I then washed the air filter box out. While I had the box out I saw all the chewed up wires so I decided to go ahead and fix them. I pulled the harness out and spliced in some new wires, I heat shrinked them in, then wrapped them in waterproof tape, then super 33 electric tape, so they should be good to go now. I thought of just replacing the whole harness till I found the price of it online! When I pulled the speed sensor unit out it leak oil out, I'm assuming it is the crankcase/motor oil? I checked the dipstick on the engine and didn't notice it being to low. Once I got everything put all back together, I started it up and the dang light was still on, but I figured it might take a couple of cycles on and off to clear it. I then begin driving and viola the speedometer started showing the speed, and then the light went out. So problem successfully resolved. Thanks to everyone that helped out here!