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I just picked up a 95 f150 with a 4.9L and m5od. It shifts fine into all gears but 3rd. It'll go into 3rd but takes a good bit of effort and when it does pop into 3rd the shifter will smack the dash no grinding just resistance. Would this be a shifter fork or possibly just the shifter bushings? All other gears go in and out with ease.
It sounds like it would be in the shift rails/or tower. Did you check your fluid level? From the problems I have seen, short of water getting in the trans causing rust on the splines, Most shifting problems like what your explaining end up being in the rails, which can cause a fork to break then, well you can imagine.
On another note. Is it a 2 wheel drive truck? I have a 5 speed from a F-150 sitting in my garage if you need one. It shifted just fine and the syncros felt great so I had to keep it when I junked the truck. Its up for sale on CL for $150. But if your close enough to me where the shipping wont hurt you I can help you on the price.
Good luck with it, and let us know what the problem turns out to be.
It's a. 4wd. Checked the fluid and all is clean and at a good level. I just found it odd that it only refuses to go into 3rd and there is no grind or anything. I'm going to pull the shifter and see if I can find anything there and see what I see through the top. Not sure where you're located but I'm in Louisiana close to New Orleans.
If it's smacking the dash I'd be willing to bet your shift fork for 3rd gear is worn out. You probably have trouble getting into third because it's so worn down it barely makes contact to shift into third.
Well to my surprise everything looks good on the inside. I used a shifter rebuild kit and replaced the non existent bushing that used to be there with new ones and now it shifts like brand new. No noise or hunting for gears. Thanks for the help