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I have a 97 f250 HD, i was driving in the snow the other day in 4x4 when my speedometer started going crazy, then my transmission started doing the same thing.
It would shift into first regardless of my actual speed and in the snow it locked up all 4 tires. I was told its the speed sensor, but i was wondering if it could be anything else?
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It COULD be something else, but Id venture a guess towards the speed sensor. Its a cheap fix, about 30 bucks from the dealer, and easy as pie to replace.
Speed sensor. They can get crudded up with metal dust from the gears, or so I've heard, and you might be able to clean it, but if you're going that far, get a new one anyway.
While you're down there, check the fluid in the diff. If it's got a magnet in the fill plug, clean off the metal