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For your 2004 Chrysler Sebring, it is recommended to use ATF+4 synthetic automatic transmission fluid in the power steering reservoir. There are various brands available, but a reputable one like Valvoline should work fine and is reasonably priced. You can typically find 1-quart containers for less than $7. There is no specific schedule for checking power steering fluid levels; you should only need to check if you suspect a leak. If there is a leak, it's important to have the vehicle inspected by a dealer promptly as driving with low fluid levels can pose a safety risk.
Chrysler suggests using ATF+4 specifically for the power steering system.
The power steering fluid for a 2004 Chrysler Sebring is ATF+4.