I have "heard" it also acts to help cool the transmission.

Neither of my cars had it on when I bought it, but I plan to find one and get it on at some point in the future.

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2016 Monsoon Gray Audi Allroad - 21k
2008 Black Mercedes E350 4Matic Sport - 131k
2014 Jeep Wranger Unlimited Sahara - 62k
2003 Gray Mercedes ML350 - 122k