O/D off light flashing on 92 4runner

Is it ok to drive it while its flashing entill i save up enough to get it fixed? i figure its a bad speed sensor in the tranny. (speedometer doesnt work, and tranny will redline sometimes, have talked to other guys and they said speed sensor fixed their problems for speedometer problem) it flashes on and off while i have O/D on, and when i turn O/D off, the light stays on constantly, i looked at other threads and people have said speed sensor is the reason for this problem also.


So is it ok to drive entill i get it fixed?

I'm a back yard mechanic - we had a similar thing going on with my son's 92 - the constant kicking in an out of gear has to be hard on the transmission. If it isn't doing it yet - it will. It gets worse. Make sure you ask for a speedometer sensor, as there is a speed sensor - but that's not what you want. Just replaced it today. lists at 206.00.
Just one bold holding it on - it's at the rear of the transmission right next to the drive shaft. Has 3 little screws on the outside of it, don't need to take them off, just the one bolt. Slides right out. With the new one you get the o ring, but not the plastic gear. Little clip holds the shaft and gear in. take the clip out and oil it up a bit and slide it into the new housing. put the clip back in and you are ready to install. It goes back in easy except for the last 1/4 inch, I rotated it back and forth a little to make sure the teeth where meshing and then pushed it in.
Put the bolt back in and pray that it works! Mine did.
Your speedometer and odometer will work again unless you have other problems and it will shift correctly and no more reving like it's in neutral!
Hope that helps.
Oh, I did check on line - can get it for 168.00 but I was able to get it for about the same with a discount on my end. Just takes a few more days shipping.

could it be that sensor is just loose too? because in the past few weeks the O/D Light hasnt been blinking at all, but the speedometer has been working and not working whenever it feels like it, so i'm thinking the sensor could just be loose? if thats even possible?

I don't think that is possible - as an electronic - it might work sometimes and others not, but not because it's loose. You might get under there an carefully unplug the electrical plug - spray it with some kind of cleaner and plug it back in - they say sometimes they Corrode and not work properly. I tried that first. But it didn't help mine, so replaced it.
There is a little clip on the plug, so pry that up so it will slip off. Again, it's the last part of the transmission before the drive shaft, on the passenger side, with the plug coming down from the top. Has three small screws on the outside cap and one bolt holding it onto the transmission.
Worth trying to clean it, cann't hurt anything. Hope that helps.
JDW

thank you i'll try that

My Runner just started this yesterday. I was driving down the road, happened to be looking at the speedo and all of a sudden the needle just dived to 0. It never went back up. Of course I assumed either my speedo cable or my speedo head was out. For months prior to this happening there has been a noise coming from the dash--we assumed it was the speedo cable or head on its way out. A speedometer company told us it was the head and it would cost $250 or more to replace it--so we didn't do anything. My question: did you notice a knocking or vibrating noise before yours went out?

Our symptoms are the same as yours, yes my o/d light is flashing now too. My husband and I too are backyard mechanics and he is worried that if we run out and buy this part it might not be the right one and we will be spending money on something we don't need. Not to mention we don't want to be chasing this problem all over the place and buying a bunch of electronic parts to try and hunt it down.

i have a 1990 4 Runner. When im driving in the morning after a cold start it seems to run with no problems, but once it warms up it starts to miss shift. usually it will skip the second gear. and the O/D light will start flashing . please help i dont know what to do , i have checked the code but no luck.
email me at cyco786@hotmail.com. thanks.