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The light is a warning that your transmission's computer is storing some sort of trouble code. A good reputable transmission shop can read the codes and tell you what they are. A bad, disreputable tranny shop will tell you it definitely needs an overhaul. There are probably more BAD shops than GOOD ones. Ask your friends for the names of some good shops.

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Q: Why does the Overdrive light flash on and off in the 1997 Ford Contour?
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