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Mustang Nut
Joined: Sun Oct 22nd, 2017
Location: Horsepasture, USA
Posts: 1692
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I bought a 70 cougar xr7 for 300 also. Smoked like crazy, 351C 2 barrel. Trans started slipping, checked.. fluid was low so I filled it and it went for another 3 days.... fluid low again.
Put it on the hoist to remove the trans, first thing I pulled was the vacuum line off the modulator and oil started pouring out. BINGO. Replaced the modulator, like 14 bucks back then and the whole thing came to life. No smoke except from the rear tires.
Jim, that was a common problem with the vacuum modulators going bad & sucking trans fluid out & burning in the engine causing it to smoke.
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21 Bronco Sport Big Bend (Wife's DD)
05 F150 XLT Reg Cab, 2WD, 5.4L, Auto (My DD)
69 Mustang Coupe 5.0, 5 spd 9" rear(Project)
14 Kawasaki Vulcan (Wife's Toy)