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It is not really a band, but a set of clutches, or a clutch pack. It means that you no longer have a 4th gear (overdrive) because the clutches are either burnt, or the seals that control the pressure are no longer sealing. It is also the weakest of all clutch asemblies in the transmission. You will need a transmission overhaul.

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Q: What does it mean when your overdrive band has failed?
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