First a little background.
12 years ago, my father-in-law parked his T-bird in the garage because the brakes went out. Recently, he said he'd like to drive it once more before he dies. Great, huh? Anyway, I started by giving it a complete tune-up, rebuilt all the wheel cylinders, and replaced the master cylinder. While changing the master cylinder, I saw a large puddle of transmission fluid under the front of the car. It was coming from the bottom of the radiator. When i checked the transmission fluid, it looked watery. Now, we have only started the car so far not driven it. Am I correct in thinking that the cooler line running in the radiator broke, or corroded, and radiator fluid contaminated the transmission fluid? Is this why I might have water in the fluid? The bottom of the radiator is cracked & that's where the fluid is coming from.
If so, I plan to replace the radiator and drop the trans pan and replace the filter and all the fluid before we attempt to move it.

 

If anti-freeze managed to get into the trans it raises he** with the internal parts. The two just don't mix well together and you could be in for some trans work up the road.If it did not, consider yourself very lucky.

 

Me, I'd do everything you mentioned. Then once it was running, take it to the dealer (or Quick Lube joint) and get the tranny fluid flushed. That way you'll be sure to get all the contaminated fluids out of the trans.

 

if the transmission cooler inside the radiator gets a hole in it then the antifreeze can mix with the transmission fluid and the other way around !

 

OK. I'm glad I didn't run it that way! I'll post results as soon as I can find a replacement radiator.

 

once you change the radiator change the fluid in the transmission just in case there is antifreeze in the transmission, but don,t flush it !

 

if you drain the tranny make damn sure you drain the torque converter also to make sure that you get as much antifreeze out of that trans. as you you can. good luck on that car

 

Caution! It's a bad idea to FLUSH an old tranny, because the tranny fluid leaves
an almost tarnish brittle substance in the tranny. Under normal operating conditions,
this will never hurt the tranny, HOWEVER Flushing the tranny can break loose
little bit's of this tarnish and ruin your tranny in a matter of minutes. I would not flush an old tranny. Ask the shop you take it to. They'll tell you! Good luck with the old bird
Many miles and smiles to ya!

 

What is the best way to drain the torque converter? Do I remove the drain plug from the TC through the inspection cover and just let it drain out?
How do I refill it?

 

there should be a drain plug somewhere between the flywheel and the torque converter if you look through one of the holes of the flywheel once drained you just put in 5 qts trans. fluid then start motor for about 30 secs then shut it off the front pump should fill the tc. then just fill up the trans with fluid until it's shows full on dipstick then check it while engine runningdo not over fill the trans. and use type F