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the 4L60E is a electronic version of the 700R4, but they don`t work the same, the 4L60E relies on the computers instruction to shift via electric selenoids in the valve body while the 700 uses the TV cable to shift. The 4L60E suffers from valve body problems due to it being made of aluminum, both tranny`s have weak sun shell gears that are prone to breakage. the 700 can be used in a non computer application, the 4L60E can also but not so easily and a bit more costly.
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