The best fluid would probably be Mobil synthetic (pricey). But really, any trans fluid that meets Dexron III should suffice... that and 30K change intervals.

The best way to drain is to open the pan drain bolt and let the fluid out before removing the pan.

Don't forget to drain the torque converter at the same time before refilling. Draining pan and torque converter will change 85% of the fluid.

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95 E320 Cabriolet, 159K