Re: I have my first Ranger and it has an issue.
Welcome! what you are describing is a problem with your transmission! typically when your o/d light flashes, that is what it is indicating. Usually on these ford ranger transmissions the first thing to go is the valve body gaskets. If you are mechanically inclined you could easily perform this task yourself, it just requires removing the tranny pan and filter, and you then have access to your valve body. You can get a set of gaskets from the dealership, i just dont know how much they will charge.
The reason i believe that it is your valve body gasket is because when you get up to 50 mph, 5th gear will typically engage. When a valve body gasket is blown, you will lose Overdrive and 5th gear. When mine went i brought it to a transmission shop, and they wanted $450 to replace that and flush the fluids. i decided to take the project on myself, it was quite simple.
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2000 Ford Ranger (gen 4), XLT 4x4 OFF-ROAD package, 4:10's, Powerdome Hood, LOTS of mods.
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