Question: what is the difference between mercon v and mercon lv transmission fluid?
Answer: Mercon V—the most common Ford ATF in late model Fords, it is very much like Dexron III. ... The LV stands for "low viscosity." It is a fully synthetic ATF. It is not compatible with earlier Mercon fluids, so it should neither be mixed with Mercon or Mercon V used to replace those fluids.