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I am driving a 2007 Silverado. When I am towing 5000 lbs.and using the tow button, should the selector be in 3, or can the selector be in D which has the OD?
Really depends on if it is shifting alot, and what motor. But to be safe I would use 3rd. I always use 3rd if I see the RPMs slipping up at all when cruising and pulling a load, or pulling more than 3500 lbs.
According to the 2005 manual, It is fine to tow in drive (4th overdrive) if you have an automatic. It recommends to shift to 3rd if the tranny is shifting alot or in hilly terrain.