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The M5OD is usually considered the best of the three. The Mitsubishi trannies will definitely work, but most people will recommend that, if you are in a position to shop around until you find an M5OD to put in, that you put forth that little bit of effort to find one.
The FM145 and Fm146 are different lengths, 146 is 2.5" longer.
If you have the 145 the only thing you would have to do is swap your slave cylinder to it, it was changed 87 to 88 so the hose connection down at the bellhousing is different.
I just happen to have a 1987 reman jasper FM145 listed in the bronco 2 section of the classified area here on FTE if you're interested. I have no use for it, won't fit the 89 I have. Not looking to get rich off it, I wouldn't turn down a reasonable offer.
Blew my A4LD automatic and had a '91 Ranger 4.0L with M5OD sitting there so I swapped the tranny into the BII. Mechanically, it was an exact fit. Same length as the A4LD it replaced, transfer case bolted right up, cross member lined up exactly with the rear tranny mount.
Probably the worst part of the swap - working under that dash to install the pedals for the 5 speed. ARRRRGGGHHHH. I ain't that large a person, and I had the seat out ... was STILL a P.I.T.A.
This was probably 2 years ago now, so bear with me on the wiring ... As I recall ... there are 2 connectors on the A4LD. A small one with 2 or 3 wires in it and a large one with about a dozen.
I had to find the neutral-sensor in the larger, lower connector off the A4LD. I hooked that up to the neutral-sensor connector on the M5OD (cut the harness connector and about 12" of wire off the Ranger). I believe the backup light wires were in the smaller connector - apply 12 volts (used my battery charger) and see if your backup lights come on.
Save the tranny-hump plate from your donor vehicle, or be prepared to modify your original.
I did *not* replace the computer. It's running great.
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