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Just wondering if I purchase a new turbo for my 7.3, is this just a bolt off and bolt back on application, or is there a setup procedure that is required before installation of the new turbo?
Welcome to FTE. As a side note, we do have a 7.3 diesel section located a little further down the forum where you can learn a lot more about these motors.
To answer your question, it's just an unbolt, and bolt back on. You really should get 2 new viton o-rings to go between the turbo pedestal and turbo for the change. After you remove the IC plumbing, intake tube, wastegate hose, just remove the 2 bolts holding the turbo on, loosen the clamp on the Y collector behind the turbo, take the clamp off the down pipe, and the turbo comes right out.
Make special note on the back of the turbo there's a hole, and on the front of the Y collector there's a short pin. The pin must line up with the hole when you put things back together.
Before you start this procedure, I'd recommend you check for any leaks in the up pipes (soot stains where the pipes connect to the Y collector behind the turbo). If you see any soot stains you'll want to change the donut gaskets there while you have the turbo out or you'll be loosing boost pressure.
The truck has 180,000 miles on the original turbo and is a dog of the line till the turbo finally kicks in. I think it is time to change, and I have a friend who works for Reedman-Toll auto group and can get me a brand new turbo at wholesale price, so I am going to jump on that while she can still do it. Thanks for the info though. Blessings Rob