One problem related to transmission solenoid has been reported for the 1998 Ford Ranger. The most recently reported issues are listed below.
Rear end (?) whines at various speeds,transmission slips. Dealer rebuilt differential, problem persists, dealer now has vehicle installing a new transmission trying to fix problem. Brake pedal pulses (not abs)and steerings wheel shudders (left/right) when brakes are applied at all speeds. (not reported to dealer, have since found out that this is a common problem with this vehicle). Oil filter- to remove filter it must be wedged past the solenoid/starter. It come in contact with the exposed wires/lugs? on the starter. There is nothing protecting this exposed area. My dealer has been extremely courteous and understanding in dealing with the transmission/differential problem. I have not received any information from Ford regarding these problems. Through research on the internet I have come to believe that the problems described here are not limited to my experiences. Thank you.