I think i may have my first problem since i bought the truck i went to reverse and hear a really loud creaking sound sound like its coming from the differential its painfull to hear and my o/d off light came on after i heard it its late right now so i just parked it till tomorrow.....anyone ever have a similar issue?

 

Not sure I would call it screwed.

Any chance it could be the U-Joint? Not sure what would cause the OD Off light.. Doubt a U-joint would cause that.

 

I dont think so its right at the back axle because i had someone drive it while i searched and that sound is terrifying

 

I've heard that if the OD light flashes that is a tranny problem. I'm not 100% sure but that's my thought.

 

Check the rear brakes my old ranger would grone in reverse if i was riding the brake while backing. Turnd out it was worn linings plus the automatic adjusters were frozen so I was getting little or no brakeing from the rear.[drum brakes]

 

When it flashes or just comes on....i searched on google just now and found a guy with a 04 150 that had a video of his truck doing the rxact same thing and people think it has to do with the leaf springs so that eases my mind alot but the od light still puzzles me although i could have accidentally hit it goin from reverse to drive to go back and forth......and for the other guy preciate it but i have disk brakes and i was looking at them and they look good

 

The e-brake is a drum style and they are known to cause issues, hanging up and getting stuck on etc. I had mine apart yesterday and they get pretty rusted up and dirty especially in my case as I never use the parking brake. Best wishes!!

 

I remember an old thread with a very loud creaking noise it turned out to be leaf springs I think he greased them or something? I don't remember.

 

Ya that sounds like your parking brake was stuck. I'd start easy early and take the rear rotor off and spray brake cleaner all over the parking brake assembly and caliper/pad/rotor etc...