Hey 88stangNJ,
From what I see on Ebay Motors, 96 models came with the T-45 which I don't think will fit on a 5.0.
I know exactly what your problem is. The main gear on the cluster or input shaft is blown. What's your fluid level like? Here's what you'll need if you were to fix it:
(Part numbers from Hanlon Motorsports)
Input Shaft P/N HMS085025 $98.34
052 Cluster Gear P/N HMS077052 $173.95
-or-
068 Cluster Kit P/N HMS410003 $279.00
---Includes 068 Cluster Gear, 2nd and 3rd Gears. Separately they are $198.96, $82.38 and $83.09. Basically you would be getting one of the gears free. Plus the 2nd and 3rd ratios are improved.
Plus a rebuild kit (syncros, bearings, seals), if you want to go that far. That adds $169.95.
If not, I would recommend at least a refresh kit (syncros only)($89.95).
So you're looking at anywhere from $272.29 to $547.29 to fix it (yourself).
I'll be off work from Nov29 - Dec6 (except Dec4) and I'd be glad to give you a hand with fixing it.
E-mail me at
richdooz@comcast.net if you're interested.
Rich D.