You might as well change the Thermostat because it is comparatively inexpensive, but test the water pump to see if it needs to be replaced.
The housing retainer bolts are loose or the gasket has deteriorated. If replacing the gasket, use pliable gasket sealant to improve the seal. it could also be the water pump went bad and leaking water down beside the thermostat. the thermostat is part of the water
Drain coolant in system - Remove top hose from Thermostat housing - pull thermostat out and replace, new gasket/seal is also recommended.
Check for water in your oil, if so, this is a sign of bad head gasket. White smoke from the exhaust and loss of coolant with no apparent leak are all signs of a blown head gasket. You can also remove the thermostat (it is much cheaper to replace and easier to troubleshoot as well). If the temperature of the vehicle lowers, your thermostat was the problem.
Most older Chevy silverados use a rubber gasket around the thermostat itself... the upper housing also has a rubber gasket built into it. Did you move the gasket from the old one & put it on the new one? There is also a paper gasket you can use, but you need a lot of permaseal & it isn't as good. Most parts store will have the rubber gasket & it's about $1.00
have a blown head gasket is my guess
The thermostat gasket for a 1990 Mercury Grand Marquis is the standard "paper" type gasket, and a good RTV silicone is recommended. Permatex makes a sealant well-suited for the purpose - it's called "Water Pump and Thermostat Housing Sealant". You can also use similar sealants, such as Permatex Ultra Grey, Ultra Blue, or Ultra Black.
You remove cover then remove air filter unscrew the 2 bolts holding the thermostat(round dome looking thing) replace with new thermostat. Make sure you replace gasket also. The thermostat is located at the end of the large hose that comes off the radiator.
follow top radiater hose to it, there should be two bolts on thermostat housing. take the bolts out, make sure engine is cold. you will lose some coolant but add to it if you have to.make sure you put thermostat in the right way, when changing thermostat replace gasket also!!
The cast aluminum part where the top radiator hose attaches to your engine is called the thermostat housing, it is just under the distributor. If you remove the two bolts holding the thermostat housing on to the engine block, break the gasket seal and remove the housing just sitting inside the block you will find the thermostat. Drop the thermostat into a pot of boiling water on the stove, if it does not open it needs replacing. You will also need a new gasket for the thermostat housing before reassembling.
If you follow your upper radiator hose from the radiator to the engine you will see it is connected to a outlet that is bolted to the intake manifold. This is your thermostat housing/coolant outlet. Drain the coolant from your radiator, at least half way. The remove the upper radiator hose. Remove the thermostat housing. Now you can remove the thermostat. Make sure you clean all the old gasket off of the the housing and manifold. Then install the new thermostat, a new gasket )I also recommend using some rtv or gasket sealant to prep the gasket) and the thermostat housing. Then hook your hose back up. remove the radiator cap and refill your radiator. Make sure to use a 50/50 mixture antifreeze.
yep bad pump did you check the oil. check it for antifreeze if you have water in the oil you may have a blown head gasket. If you live up north it could also be a freeze plug popped out. Probably the water pump though. When you change it out I would also replace both the lower and upper radiator hoses and the thermostat (and gasket).
Unbolt the thermostat houseing remove the old thermostat clean all of the old gasket off of the housing and the inlet put on new gasket and new thermostat also recommend flushing the cooling system re torqur the thermostat housing bolts to the proper torque and run the motor check for leaks.