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My overdrive control is on the shifter in the steering column in my 99 f150 Lariat. After driving for about 60 seconds the off light starts to blink. It continues until I shut the truck off. Nothing changes (the ride is still smooth etc.) What could the problem be? I don't have a clue. I never shut overdrive off as it is, so this is very strange to me. Thanks for the help.
The flashing light means the truck's PCM (computer) has seen something it doesnt like such as a bad sensor reading. It hopefully is nothing more serious that a faulty speed sensor or something like that but to figure out what it is you'll have to take it in the get the PCM scanned for codes. Ford dealers are your best bet but apparently most AutoZones will do it for free. Make a note of the code they get...not just the description of it, and someone here will be able to point you in the right direction.
You can clear any codes yourself by pulling off a battery terminal and letting the truck sit for a few minutes. If you do this and the light comes back on after you drive it a ways then you should get the system scanned.
Has the oil in your transmission been changed? Is it still a nice bright red color? Does the speedo work properly?
Let us know what you find out.
I've got the same problem. 1998 f150 Supercab 4x4 off-road package with the 4.6 liter motor. 100k miles. I will try disconnecting the battery tomorrow, and if still have the problem, I will take it in to get cades scanned. I'll post the results here. Hope you will let us know what you find out, thegame2112. Thanks for the suggestions and info, Racerguy.
OK, I disconnected the battery about two weeks ago, and the OD light stopped flashing. I wanted to drive it for awhile before I posted the results to make sure that the light would stay off. Hopefully the problem won't resurface. Again, thanks for the tips!