While in Drive, transmission would randomly come out of gear, into neutral. After revving way up, you would obviously have to take your foot off the gas. Revving would drop down to about 500 rpm where the transmission would 'jolt' back into gear and could then be driven again (until the problem repeated). O/D off light would flash. At first it did this to me once, after driving a long period of time. Eventually (months later) it started happening very frequently. Took the car to Ford where they inspected the problem, told me the codes "Transmission range sensor out of range" showed up. Inspection cost me $168. To fix the range sensor issue, they gave me a quote of $778. As if. I bought the part from Taylor WIlton for $55 (Ford's parts cost estimate was over $250) and had it installed by a local mechanic for $120 worth of labour. Fixed the problem 100%. Have driven it more than 2000km since repair and everything is running well.

At first I definitely considered just scrapping the car, as it was worth roughly $3000 and I figured it needed a new tranny, which would likely cost over $2000. I even read reports of people with this same issue replacing their trannys and it NOT solving the problem. Poor souls.