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To replace the slave and master cylinders, I'm getting quotes of $600 for parts and labor (Austin, TX), so I'm thinking of doing it myself. Ford gave me a price of $150 for the slave and master. I can get a trasmission jack for $70 at Harbor Freight and sell it on CraigsList/Ebay when I'm done. Are there any other parts I'll need? Gaskets? Also, where does the exhaust pose a clearance problem? There appears to be enough clearance around the bell housing to drop the transmission (I have a 2003 F150 4.2L V6).
When I did mine I replaced the clutch and the only special tool was the slide hammer. You may need an clutch alignment tool.
I found that with the exhust cross over inplace I did not have enough clearance between the bell housing and the back side of the pressure plate. I did not even want to try to remove the rusted cross over .
The PP had to come off first and then went in place after the tranny was raised in place. If you are forced to pull the PP then an alingment tool is needed, auto zone has them for $10.
Are you sure you need to replace the Master cylinder? Try not to disconnect the plastic hose from it. I found it hard to get back on, because it's hard to get too and ends up with oil on it.
There is a tool that comes with the slave cylinder that removes the connecter from the hose. It was tough getting of, but it will come.