Explorer got stuck in Park, Now no 2nd gear, O/D flashing

[JoeNichols]

Alright guys, I know this has been posted to death, but I can find anyone with similar circumstances. I've recently purchased a 99 Explorer 4.0 XLT, AWD on the cheap with 292,x.. miles.

I was playing with the 4wd in 4 low, climbing a small hill, went to go into reverse and I went to far and into park (shift indicator is not working). So I got my trusty 88 F150 out and pulled the explorer up just enough to take the pressure off the "park safety pin"? And it came right out of park and into drive.

Drove the explorer up the road and then....no second gear. Free revs in 2nd till I allow the rpms to drop and shift into 3rd. Drove it to my transmission shop and then the O/D light comes flashing on and the trans goes straight potato, into what I assume is limp mode. He says trans needs a full rebuild and didn't bother driving it or looking at it.....Get it back home and I read code P0733. Gear 3 Incorrect ratio.

What I've been reading is the valve body gasket blows out, or a solenoid gets wanky. Is it worth my time at 292,x.. miles to attempt servicing the gasket or other parts or am I wasting my time?


Thanks guys

 

[JoeNichols]

Update: I dropped the transmission drain pan today. Found a band anchor broken from a band and part of the tensioner strut laying in the pan. Most likely will have the transmission rebuilt, since I've already removed it. Might look into just replacing the broken band, but in all reality it wont be long till another brakes with the mileage on the truck.