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No. The cable that connects the gear shift to the indicator may either be broken or requires adjustment.

As long as the vehicle goes into the proper gear when selected with the gearshift you should have no problems.

The inidcator is more of a nice to have tool than anything. I'd compare it the chime when you leave your keys in or the dome light when you leave to door open. Both are nice to have but can be eliminatd with zeo impact to the vehicles operability.

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Q: Does it hurt to drive your 1999 ford expedition with gear shift indicator misaligned?
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