Has anyone had this code pop up ?

 

Google has these as possible causes:
- Low transmission fluid level
- Dirty transmission fluid
- Faulty Shift Solenoids
- Shift Solenoids harness is open or shorted
- Shift Solenoids circuit poot electrical connection
- Transmission mechanical problems
- Transmission hydraulic control circuit

What year and engine do you have by the way? How is the truck acting?
Tom

 

Possibly a bad 2nd gear solenoid?

 

Was going down the interstate yesterday and all of a sudden the truck acts like it popped out of drive into 3rd and the rpms jumped up then back down then reingaged again .then when I slowed down to take a corner same thing and when I started to get back up to speed the trans fault code on the dash came on and my od light started flashing and I barely got it back home. Put the scanner on it and the only code it threw was a PO732 code. It all came on all of sudden.,
Oh by the way it's a 2005, with a 5.4 in it. It has 117,000 miles on it witch seems like very little miles for the granny to be acting like that

 

Years ago I had a new ford that would feel like it jumped out of gear and would rev up then come back down, ford tried to tell me that it was a built in passing gear, turned out the syncroids (internal bearings) were bad and ended up separating and shot thru the transmission resulting in me having to get a new trans. Vehicle only had 20,000 miles on it, I hope this isn't your problem. Did you get a chance to check the fluid or crawl underneath and check for any visible damage?
Tom

 

I didn't have a code until the second time it happened to me this last Sunday. She's in the trans shop now being rebuilt. Very similar situation. Slipped out just before 3rd and wouldn't re engage until it slowed down and the rpms dropped. Never over second though. I didn't have a scanner so I have no idea what the code was yet, but I did get the "trans fault" "o/d off". I'll repost when after I talk with the mech.

 

just got my truck back from the tranny shop. Better than new...but I have some bad news. My mech told me the truck had a p0732 code when he scanned it. "Gear 2 incorrect ratio". He said the clutches were worn and a couple of snap ring or something. I've attached a picture of the parts list.