Hello everybody. I seem to have another problem with my 86' 740 turbo, and as fast as I can fix one problem, I seem to get another one. Is that why they call them bricks?
Anyway, the light/arrow lights up on the dash and the overdrive kicks in by itself. I've called repair shops to see it the arrow is letting me know that I'm low on fluids and was told that it didn't have anything to do with the fluids. I use to let it run for awhile or wait until the next day and the light would go off. I was told to unplugged the relay, and when I did that the arrow came back on. I have a 10:00am appointment 90 miles away with the repair shop and would like to know if I would be able to drive it that far like that without causing any serious problems.
I checked the transmission fluids with the car running and it was at the max, but there is a notch cut out about a 1/2 inch farther up the stick and I'm not sure where the proper fluid level is with the car running. I've heard that usually with the car running that the level is up pass the max mark.
Can anyone help me with these problems, or am I going to need to look into getting it towed the 90 miles to the shop.
Thank You for your time in reading this and for the help if you can provide.

I had this problem too in my 90 740... Took it to the dealer and the mechanic sat in the driver seat and hit the shift lever toward his leg with his fist. The light went right off. Guess it was just enough force to get the relay to click off. You might want to try this if your overdrive is stuck in the off position and you have 100 miles of highway miles to drive to get home [like I did]. I never touch that button anymore!

You won't hurt the car by driving in third gear. YOu'll get lousy gas mileage, that's about it. Top speed in third is about 85-90 mph so normal driving won't get you in trouble mechanically.
I think all you need is an overdrive relay. P/N 3523804. About $20-40 depending on source (aftermarket is cheaper). IF you can solder, you can pop yours open and re-solder all the connections inside for free. IF they replace it, ask for the old one back as a spare.
The other possibility is that it's making a lousy connection in the fuse panel. Pull the ashtray out to get at the fuses, and the coin tray above it if necessary (or equalizer if you've got one of those). Wiggle the OD relay to see if you can make the light go out. Wiggle it, push the button, etc- you can do this sitting still with the key on. The light should go on and off whenever you push the button.
The OD relay is the tall skinny one on the front right of your fuse block- farthest from you. You should be able to feel it click when you press the button.
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Rob Bareiss, New London CT ::: "Roterande Fläkt Och Drivremmar!"

Thanks ChadWoz and Aye Roll, for the help. I think that I may be working on the wrong relay. I had taken the ashtray and all out, to see which one is was when I hit the button. I been pulling the one on the right side front out. It used to go out wheb I would pull it out and replace it, but now it doesn't since I've had it resolder.
I'm in the process of looking for a replacement relay right now, any ideas, or help from out there? It seems that when Im going along and the RPM is way up there, that the car runs real bad after awhile and it get's worst the futher I go.