Do you have a tractor store or a farm supply store? you may be able to find a dex/merc ATF in a 12 pack case for cheap...I am only saying this because its miles better than what you have in there now, and its cheaper than mercon v. Drain the trans and dont use the truck
Make sure to drain that converter, youll probably need 14 quarts(thats how much my converter + pan on my 2wd E4OD was)

 

i'd love to just take it to a transmission shop but all the ones around here say it'll cost over $2000 to rebuild it or just won't work on it because its 20+ years old it's sad as in 2002 it had a new crate engine put in and a rebuilt transmission installed so i thought it was worth putting a little money into but im in over $1500 and it doesn't seem like it's worth it to put anymore into it unless it's a simple cheap fix My grandfather's Torino needs a new engine i think this 351 will work good

 

The T-30 screws are on the steering column under the dash in the cab.

 

A case of ATF is not anywhere near the price of a rebuilding a E4OD. Im not sure what you are going on about

 

You may not have destroyed it, yet. Do not drive it anymore with that fluid in it.

 

Transmission looks good inside hardly any metal shavings on magnet in pan So I should only use Motorcraft Mercon V / 5? Tomorrow I'm gonna drain fluid from torque converter

 

MERCON V is the correct fluid. It used to be MERCON, but that was discontinued in 2006. There are also fluids that are called DEX/MERC and say that they are for use where MERCON was specificed.. They may or may not meet the discontinued MERCON spec. There is no spec at all for DEX/MERC.

 

I only told him of the cheap option since he seemed very worried about money, but if OP can get 13-14 quarts of Mercon V you SHOULD

You need to drain the torque converter too, there is a...11mm? drain bolt on the torque converter and a rubber plug over the spot it should be, rotating the engine over with fuel pump relay pulled or if you are strong I used a tire changing spoon to rotate it. that converter is a lot of fluid and you really need to get the stuff in it out of it

 

Or you could use the procedure that I posted which will get even more out than if you drain the pan and the converter.

https://www.ford-trucks.com/articles...-transmission/

 

Just got back from Advance Auto Parts that sold me the SP fluid guy there is saying it takes Mercon 3 fluid and said it's still sold by ford dealerships Now AutoZone on there computer it says to use Mercon V i had to buy the mercon v at advance because nobody else had 3 gallons of it i got MotorCraft brand going to get a new pan gasket in the morning

 

There never was a MERCON 3 fluid. It never existed. He means MERCON. And no, Ford no longer sells it.

The original pan gasket is reusable. You don't need to change it.

 

the original broke in half i replaced with a new one 6 months ago but i don't wanna clean off all the red RTV i put on it i don't even need RTV gasket maker do i?

 

I’m glad you didn’t listen to them.. ngl it’s kinda face palm moment that you just about got yourself buying dexron iii(thats it’s own set of issues LOL) or some other non existent or improper Mercon when a LITERAL FORD TRANSMISSION ENGINEER told ya the answer.

like, don’t worry about what the auto part stores are trying to tell you since you already have your answer from someone who’s just going to be better educated than any of those employees likely will ever be on that topic.

fortunately, you accidentally ended up with the right fluid success!

Mercon and gm’s dexron III fluids both lived in the same general era.

while Mercon is no longer made, dexron iii is but gm doesn’t call it that anymore to make sure people buy their updated fluid instead of the legacy stuff which has small other uses.
That means ford and Gm Do not repeat DO NOT monitor/police the atf market to verify the fluids meet their spec.

thats just a little bit to help you goin forward. For comparison MERCON V and DEXRON VI are both fluids actively policed and monitored by ford and GM. If you see a product saying it’s Mercon v, there’s a good reason to think that it’s meeting a minimum of standards somewhere

 

well your gasket doesn’t need RTV.. but if you broke the gasket you probably should replace it. If you don’t have that gasket I am unsure if the bolt threads are too long or not, but I wouldn’t chance it personally. I also would not know if it affects the filter adversely without it there.

if you clean the pan and trans and you have no gouges , a new gasket should be all that is needed

 

Just topped off fluid and took it for a test drive still acting the same 3rd to 4th shifts to fast is there anything else I can do because I'm not paying to have trans rebuilt Also it will not go into park it slams into reverse won't even shift to second in 2