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there is no real difference cept the ratios, i must add the 435 has an aluminum top..if that makes any difference, and it it a bit more common, both are bombproof
I prefer the NP435,low gear and the way they shift. But I do have a T18 that I use as my back up also a good choice. On a few occasions I have also run a T19 its has synchronized 1st gear that is a higher ratio than the T18 & 435.
1979 F350,4x4,NP435,5:13 gears,Detroit locker in rear with hardened shafts,ABR in the front,L&L Ladder Bars,360 with 428 crank & rods,390 HP heads,Centerforce Dual Friction Clutch,MSD Ignition,39.5x18 Boggers,bucket seats out of a Lightning,& a Southern Body that is perfect.
1997 F350 PowerStroke 4X4,36 Inch Super Swampers, Strait Piped, Chiped, Propane Injected, LUK Clutch
The T-18 is a bit easier to shift the gearing doesn't seem tobe so widely spaced compared to the NP-435 which is good for a engine with low power like a 351M in a F-350 with a 12,000lb gvw. Anything from 1980 and newer you will find a T-18 in it maybe Ford got these cheaper or just because they are more user friendly and they are the brother to the T-19 used in diesels.
I have driven trucks equiped with the NP-435 and the T-18 and I prefer the T-18 I don't need the extra low first I rather have a nicer more even geared transmission. Right now I'am back to driving my old F-350 that has a T-18 and its taking sometime to get used to again been driving a F-Superduty with a ZF 5spd for 2 yrs and got spoiled on how easy they shift. I will be glad when I find another newwer truck with a ZF 5spd and I won't have to double clutch for everyshift like I have todo with the T-18.