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Yes, the speedo will just read slightly slower than it does now, compared to your actual speed. If you have a typical Ford speedo, it reads a little higher than actual from the factory, so it might be closer to actual with slightly larger tires.
I upgraded from 225/70R15 to 235/75R15 with no problems whatsoever.
About a week later I finally got around to reprogramming the speedo, but didn't really notice much difference in speedo readings.
I worked at a Ford dealer at the time, so I was able to reprogram it by myself for free, but you might be able to talk one into doing it cheap for you if you are nice enough, or know the right people. Only takes about 10 minutes with the Ford WDS.
I went from the OEM 31x10.50x15s to 32x11.50x15s and according to my GPS I was actually closer to true speed but when I got my Bama I adjusted it for tire size and now the speedo reads fast again.
are the pictures in your gallery with the 32"s on it? did you have any clearance issues? i just bought a ranger and i am thinking about 32's
I think there are some of both in there. The pics with the truck all muddy are with the 31s and the pics of it clean are with the 32s. The tires clear fine unless I hit an off camber bump pretty hard with the wheels cranked and then you hear them rub just a smidge. Nothing that couldn't be fixed by cranking the T-bars a little but I dont care to do so.
The computer doesn't really care what size tire you run, however, the abs and speedo might. I think your ok with what your doing. I went from 245's to 32's with no problems. I did crank my t-bars to level the truck, but didn't have to. "THERE", is that better level2 ha ha.