2001 F-150 4.2L Auto
180k miles

Sometimes shows in D but its really in 2.

Sometimes put in P, turn off truck, get out & starts to roll.
Get back in, step on brake. Go to start, wont crank. Take shifter from P to 1, then back to P. Then it wont roll & starts.

Sometimes Overdrive OFF light blinks & it only goes up to 3rd gear.

 

Pay attention to the shifter positing by feel where you know it should be because the indicator may have a broken plastic part that moves the indicator.
If broken it won't show the correct position.
.
On the column down near the firewall the shifter has an arm that is bolted fast. See if it's come loose.
Good luck.

 

Took by local general auto repair shop. Charged $70. Said computer gave off many codes about transmission. Said they can install a Jasper for $3k. Took to actual transmission shop for 2nd opinion.

 

Be very careful about this.
The issue you describe sounds like control linkage or an indicator problems..
About these codes, what are they?
The transmission OD light would be on if there are any electrical malfunctions.
Did you consider the position indicator problem?
Did you check out the arm on the bottom of the steering column?
If not you can be set up for a frisking.
You came here for help now take it and do your part to help yourself..
Good luck.

 

I checked it out. Shifter seems sloppy. Overdrive OFF light flashes at times & locks out of OD. Several codes; slip, torque conver failure......

 

Ok, this is what you needed to know.
Have a shop you trust do the work.
Good luck.

 

Fluid is dark, smells burnt. Hunts for gears going down road. $1800 for a remanufactured. Shop fixed gear shifter issue, screws under dash came loose.