I have an O1 Ford Mustang. When I was looking around inside, I found a little bottom on my gearshift. When I pressed it, I saw OD off and a dash. I later learnt that means overdrive. What is the point of this?
Your transmission has an automatic overdrive. When you are going fast on a highway, it shifts into overdrive, which lowers the engine's RPM so you get better gas mileage. However, if you are towing a lot of weight you don't need to use the overdrive, so you'll want to use the switch to turn it off. For example, let's say you are towing a boat and you are pulling it in and out of the water, you wouldn't need to use overdrive.
Leave it on for normal drive, but if you are doing any hefty driving, or get stuck in the sand, turn the overdrive off. The switch was made for these types of scenarios.
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