Michael,
Is it possible it could have been riden with the brake on? My guess is that the pads are worn down, at least that would be the first place to check it if were me.

 

Thanks for the reply

As far as I know, both individuals that use the Ranger have not driven it with the parking brake on.

When you talk about the pads, are you talking the pads on the wheels or on the transmission?

I briefly looked at the repair manual for the Ranger and it appeared that the parking brake actually works on holding the transmission in place instead of the wheels but I might of been misunderstanding the manual. I did recently replace the hub's on the rear wheels and used an impact wrench to tighten the nuts on for the tires. The parking brake was working correctly for awhile after doing so I don't think its the problem, or atleast I hope not.

 

The parking brake is on the transmission and can be adjusted by raising the bed and locating the cable going to the parking brake. You'll see where the cable goes through a bracket and has a nut on each side of the bracket. Loosen the nut on the side closest to the brake, and tighten the nut on the side away from the brake. This will move the cable away from brake and "tighten" the cable. You may need to use a wrench to hold the end of the cable while you do this. Take a little slack up at a time until the parking brake is holding again.

 

yup Richard hit the nail squarely on the head

 

Michael, here is a thread that you find useful. It is from a while back but still is relevant.

http://www.prcforum.com/viewtopic.php?t=377&start=0

 

Thanks guys!

Haven't had time to fix it yet but now that I know what the solution is, I should be able to handle it. Got about a month to fix the brake, change fluids and give the rig a good cleaning before the duck season rolls in, after that, the machine takes a pounding.