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I just bought a 2001 Expedition with a 4.6. Everything ran good for 300 miles. I did have a check engine light that came on and the code was for the egr valve, but it still ran good. Since then while driving my RPMs will drop from time to time for a couple seconds then continue like it should. Once I was taking off slow and they dropped and the engine shut off.
I was planning on cleaning the egr valve this week. Could this be the problem or does it sound like something else?
Yep I'd start there. While you're cleaning the EGR I'd also recommend cleaning the throttle body and the idle air control. There are write ups on here on how to clean them.
Definitely deal with the EGR problem first. Since it's a known issue, thinking about anything else could be a waste of effort until the EGR is working correctly.
This issue you described outside of the realm of the EGR being an issue, is exactly what I went through recently. If all the previous suggestions don't fix the issue or if the issue gets worse. It may be either the Torque Converter or the Torque Converter Control Solenoid. Came to a red light in Oct. And as soon as I stepped on the gas as it turned green, truck stalled. Put it Park started again no prob, put it in drive, RPM's dipped and stalled. Had to 2 foot to a parking lot. This is just another item in a long list that could cause this.
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