What's the difference between Mercon and Mercon V

You cited 2 Ford manuals that emphatically say not to interchange fluids in the auto tranny. Period. That is the answer.

As for power steering, it is far less sensitive to fluid. Either should work but use what your manual says to use.

For some cars… Honda for example, I’d even say use the branded fluid from the dealer, Motorcraft Mercon LV is another example, so these questions never have to even be asked.

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