I was out in the garage this afternoon doing drop-n-fill #2 of 3. Basically, 3 weekends in a row - drop the drain plug, measure what comes out and refill. At 62K, the fluid wasn't too bad. A dark maroon instead of bright red.
A drain & fill is not the same as a true exchange, of course, but it is easy and can be a bit cheaper. You can find cases of Motorcraft Mercon LV on eBay and Amazon for $60-$75. The process is pretty simple, and here's what I did for a 3.5L N/A with the 6F55 (tow package) transmission:
1. Locate the filler cap/dipstick. Shine a flashlight down past the inner edge of the air filter housing, and you should be able to see it. Those with smaller hands/forearms may even be able to reach it.
2. The 6F has a small drain plug. Actually, the 6F55 has two, but I only dealt with the lower-hanging one. An 11mm socket or wrench is needed to remove it. With a warm transmission, I get about 4.5 quarts out. No need to jack the vehicle at all. Just reach under and remove the bolt.
3. While draining, move back up top and remove the airbox. First loosen the hose clamp holding the rubber intake to the box top, then undo the latches and remove the top. You can separate it from the rubber intake and set it aside without unplugging any of the sensors.
4. To remove the air box itself, pull out the filter and take a look inside. You'll see where the snorkel enters the box, and if you follow the snorkel up you will find two silver bolts where it attaches to the front of the car. Remove those bolts and pull the box upward. It has two plungers on the bottom that secure into rubber grommets to hold it in place. Once free, it is possible to remove the box with a bit of tilting and turning.
5. Now you have a clear view of the filler cap. Do not be surprised to find a fair amount of dirt and crud on it. The cap doubles as a vent for the transmission, and the vapors seem to attract/hold dust. In my case, with an otherwise clean area, the cap and tube were coated with nasty crud. Clean this carefully before removing the cap. I found a fair amount of gunk on the short filler tube and even some in the strainer contained inside the tube. So, even if you can reach the cap as in step 1, it is probably a good idea to remove the airbox and clean this area at least once in a while.
6. Once the fluid has drained and you are only getting a slow drip, reinstall the drain plug and wipe off any excess fluid. The usual warning about steel plugs in aluminum castings apply here. Snug is good, but don't overdo it. Stripping the threads will be an unpleasant and expensive experience.
7. Measure the old fluid to determine how much to add, then use a long funnel to slowly add the new fluid. This assumes the fluid level was checked previously and found to be OK. As mentioned, I got about 4.5 quarts out each time.
8. Reinstall everything, check for leaks and you are done. Some people will repeat the process x3 every 30,40, or 50K miles, while others prefer to just do a single drain every few oil changes.
Although, if a dealer is quoting less than $200 for a proper exchange, that is a tempting offer...