Odd problem

[MDmounty]

Every once in a while when I start my truck the ABS light comes on and the speedometer bounces from 0 to 70 constantly. Not really a problem until today when the rpm shot up to 2500 and it felt like the transmission slipped out of gear and smelled like the engine was burning oil. Needless to say it got me slightly worried as nothing like this has ever happened thanks for any help

 

[pcam13]

Every once in a while when I start my truck the ABS light comes on and the speedometer bounces from 0 to 70 constantly. Not really a problem until today when the rpm shot up to 2500 and it felt like the transmission slipped out of gear and smelled like the engine was burning oil. Needless to say it got me slightly worried as nothing like this has ever happened thanks for any help

The 0-70 thing is probably your rear differential tone ring speed sensor. As you drive it watches how many times the signal gets cut and determines a speed value out of that. I would remove the diff cover and pull the sensor off, clean both. I have seen these sensors get destroyed inside the diff.

99% sure these problems are unrelated but the slipping is not good. Check your transmission fluid hot and on a level surface and ensure its within the H parameters on the stick. I see a lot of people check and fill the transmissions to the cold level while off. Also ensure it is the correct color. A light pink to dark (blood) red is sufficient.

I would recommend a pan drop and see what kind of things you find at the bottom. Any chunks or substantial amounts of metal shavings is a sign your trans is on the way out. (If put in a clean container you can reuse the fluid you took out back in if you don't have some on hand.)

 

[Flash]

What pcam13 said plus; the speedo sensor and the rear ABS sensor on your model is the same part.

 

[RangerV8]

Every once in a while when I start my truck the ABS light comes on and the speedometer bounces from 0 to 70 constantly. Not really a problem until today when the rpm shot up to 2500 and it felt like the transmission slipped out of gear and smelled like the engine was burning oil. Needless to say it got me slightly worried as nothing like this has ever happened thanks for any help

I don't think You have a Transmission problem, The PCM controls the transmission shifting by seeing the vehicle speed from the VSS. If the speed is not being seen by the PCM ,will be trying to react but can't. fix the speedometer problem first. It sounds like you may have a ground problem and other electrical issues.

 

[koda2000]

I agree, go for the speed sensor (VSS) first. It's easy to change. it couldn't hurt to clean the tone ring, but i'd try the VSS first.

if you do change your trans fluid/filter, unless you've changed your fluid recently, I won't save and reuse it. you're probably looking at about 5 qts on a filter change. be sure to use Mercon V.