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To reset the oil life on a 2005 Ford F-150, start by parking in a safe spot away from traffic. This needs to be done after each oil change, typically every 3,000 to 7,000 miles. Turn the key to the on position without starting the truck. Hold down the Select/Release knob until "OIL LIFE x%x HOLD RESET = NEW" appears on the display. Then press and hold the reset button for about 2 seconds before releasing it to set the oil life to 100%. Finally, turn off the ignition, start the vehicle, and the reset will be complete.
To clear the oil change reminder on the 2005 Ford F-150, just tap the setup button until "oil life" appears on the screen. Then, hold down the reset button until the oil life gauge goes back to 100%.
Not offered on every variation. I create a reminder of when to change the oil on a sticky note and place it in a visible spot within the vehicle's interior.