I'd do a full trans flush or at least drop and clean the pan and put in a new Ford filter. Try to find the rubber gasket for the pan? I'd use a synth fluid...Mobile or Redline and the right bottle of Lubegard additive (used by the pros). The synth and Lubegard will cost a bit...but not nearly as much as a trans rebuild.
Ironically...I have the same year and mileage car. I flushed the trans 2-3 years ago in fear of the same shifting issue you have.
The oil light is engine oil pressure...keep the level up and check viscosity? If it uses some oil...up the viscosity?
Check under the hood for a sticker showing the t-belt has been changed?
Originally Posted by Jason1906709
well this will be my first post here... i have just bought a 00 ZX3 everything seems well but oil light flashes sometimes? i check fluid and seems normal maybe im getting something from the filter of loss of pressure? also this is a great guide 120k on motor and tranny and deff replacing tranny fluid a little slip going into 3rd (auto = hate it but have to deal with it) would you say any other products to put in like LUCUS? or just all tranny fluid?