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I have a 1976 F150 with a 390 and it has a C6. Last Friday the 11th i was on my way home from school in the after noon and i didn't have 2nd gear and i had it that morning and it WAS NOT low on fluid. I do try to keep up with this truck. i check m=my fluids bout 4 times a month if i get chance. So that i know the consumption rate, which is next to none. I changed the filter on Sunday and it made no diffrence. What could be wrong I also have a new moldulator valve if the will help. please help me I really like this truck and dont want to get ride of it if you have any ideas please let me know thatnk you.
Was there any junk in there when you pulled the pan?
You can try adjusting the band.
It is on the left side of the transmission.
Loosen the lock nut.
Torque the adjuster to 10' lbs. and back it off 1 1/2 turns.
Hold the adjuster and tighten the lock nut.
If you have to turn it in more than 3 turns the lining is probably toasted.
There is a "snap in" replacement available.
This requires removal of the valve body.