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Unless you know someone who can do the welding, the cost at a regular shop is probably going to be as much or more than buying a new shift lever. Likewise, the detente plate is pretty cheap.
John Draxler's Thunderbird Ranch site has good info on diagnosing and fixing the problem. There is also a note there about replacing the lower bushing without removing the steering column. I did mine following this advice.
Hope this helps
Terry
64HT
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