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I have a '96 Ford Explorer XLT and the O/D light started flashing on me on the highway. I did some research on this and it looks like my transmission is slipping between 3rd & 4th - got this from internet research and realizing that before the light started flashing, my car would rev slightly during highway driving.
I turned off the car and restarted and the light stopped flashing on me.
Now, I just plunked $500 on an A/C repair and $300 for my brakes so I'm really low on cash.
My question is: If I drive with the O/D off at all times, is this going to create further problems for me in the future or can this be a quick fix to get me through the summer to save up the dough to fix my tranny?
Not sure if it's the same, but I had a similar problem on my old Ranger a while back. It turned out it was a speed sensor on the rear differential. It was $10 for the Ranger, but may be a little bit more for an Explorer. A really quick and easy fix. Unplug and unbolt the old one and stick the new one on.
If your Explorer is doing what my Ranger did, the engine will rev and shifting is very jerky, if it even shifts, and the speedometer isn't working. Someone else might be able to clarify a bit, but I think the speed sensor, which also controls the speedometer, also tells the transmission to shift gears when its supposed to (based on the speed).