I believe that Mercon V has additional friction modifiers. You can use Mercon V where Mercon is specified such as power steering fluid, but do not try to substitute Mercon when Mercon V is called for. Our favorite technical advisor Jeff K is adamant on using only Mercon V in anything speced for it. There are some that advocate using something like Valvoline MaxLife Multi vehicle full synthetic. It sounds OK but I trust Jeff K enough that if he says to use Mercon V, that is what I will use. I am sure there are many using Valvoline Max Life and swear by it.
Yes. Mercon V is back speced for all Mercon applications. Been running Merc V in my 95 for years.
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