Just bought a cheap little beater 1992 3.0 automatic ranger. Knew it had transmission problems, I put Lucas stop slip in and it helped a lot. Now it seems as if something isn’t “engaging” fully. Put it in drive and there’s a delay before it kicks in and then it like “lunges” but doesn’t seem fully engaged. Best similarity I can describe is like drag cars when they bump to the line on line lock. It does it very aggressively, reverse is also very very patchy. Sometimes it does very decent and others it’s like reverse is pretty well gone. Higher speeds it seems to slip. Don’t know a lot about rangers but it almost seems to me like the torque converter might not be working at best performance. I pulled the pan today and it didn’t seem too bad of shape for the oil. Help please before I tear into it or start shopping for transmissions. Thanks guys!

 

Perhaps checking the system pressure? Isn't there a cooling line you can disconnect at the transmission and screw on a test gauge?
How many miles on this '92? Woah...a 30 year old auto trannie!
I have no desire to spend your money Sonny but maybe it's time for a complete rebuild?
Q'able TC and all the other stuff which must be worn....

 

Shows 82,xxx on the dash. And it’s in really good shape so I almost wonder if it is 82? It almost doesn’t seem like it’s a slip that’s occurring. Feels like something is not fully engaging. When it’s moving it’s perfectish but it’s like it’s not getting pressure or not fully engaging

 

Welcome to the forum

Not a Ranger thing or a Ford thing

ALL automatics operate the same way, they engage "gears" using Automatic Transmission Fluid(ATF) PRESSURE, and they shift "gears" and then hold "gears" using that same pressure

Forward gears require about 120psi fluid pressure, Reverse requires 160psi, this is why Reverse is often lost or slower to engage than forward gears when there is a Pressure issue
The Pump in the front of the transmission provides all the pressure, pump spins at engine RPMs, so increasing engine RPMs WILL increase ATF pressure
The pump sends the fluid under pressure to the Valve Body, the valve body routes this pressure to the clutches and bands(brakes) so a "gear" can be selected, the pressure holds the clutches engaged or disengaged depending on gear, and the pressure holds the bands closed to stop a drum, or release the drum

In the beginning the Valve body had valves operated by springs and ball valves
To make them more reliable electric Solenoids were added to operate the valves

But common issue for ALL automatics was always loss of pressure, gaskets and valve seals would leak, so trans would be slow to engage and could "slip"(can't hold a gear)
Generally speaking you can change the valve body or rebuild it with new gaskets and seals, to restore the pressure

But if transmission has been slipping for awhile that will cause the clutches and bands to wear out faster, and thats when a rebuild is needed
And with a rebuild you also redo the valve body, so if you redo the valve body now.............and it doesn't solve the problem then its NOT a waste of money since you would have to do anyway for a full rebuild
Gaskets and seals wear out from "time" not miles, materials just breakdown over time

There are pressure test points on all automatics to help diagnose internal pressure issues, but.........................
Slow to engage and slipping in gear ARE pressure issues so.....................

No on the torque converter, if torque converter is not Locking above 40MPH then maybe, but its Locked by PRESSURE from the valve body so................
And it for sure wouldn't cause slow or no engagement, unless you are hearing a god-awful grinding noise as soon as you start the engine, lol, which you don't mention