E4OD Transmission
Just key in E4OD on any search engine and you will find enough to fill several days reading which includes some real horror stories. The early E4OD was prone to problems. There are modifications that can be added during a rebuild that helps the reliability of the tranny. Ford has issued many TSBs on this tranny. IMO, it shifts too softly and that equates slipping. I just can't think you can constantly slip a tranny under load and expect it to last. I put a Banks TransCommand in my current 1996 F53 chassis. The Banks improved the shift. I had a '95, ran it 37,K miles-NO problems. I had a "90 behind a 7.3 also. It never gave me any problems in about 50K miles. I would change fluid, filter (expensive), and see what is in the pan. All my trannys had paint in various locations on the case. My guess is that it is a "tell tale" if the tranny overheats.Good luck with it.
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