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On a 98 Explorer we pulled code P0340. Seems to run ok with no loss of power. Yet. How hard is it to change the sensor? I don't even know where it is. Cost of the part? Or is there something else we should look at. Thanks.
I'm assuming it is the OHV 4.0 with the CPS located behind the intake manifold.
At the very least you will have to remove the intake plenum. It is likely you will have to remove the lower intake manifold.
There are two types of CPS on these engines. One is simply a sensor that costs $30-50. The other is an integral style kind of like a distributor. The best price I could find was at Rockauto.com for $255. Around town they price out from a low of $340 to $450. Apparently they are all made by Bosch, with the various companies. Wells, Standard Motor Parts, Niehoff, and even Motorcraft buy this Bosch part and sell them under their own brand. At least this is the story I've heard.