I have a Minn-kota maxxum 65/sc trolling motor. It has 5 speeds and I just lost two of them. When I turn the knob to speed #1, I get speed #2. It seems I lost speed #1 it just shifts to speed #2. Same thrust on both #1 and #2. Almost the same with #3 and #4, they give me the same thrust ( but higher than speed #1 and #2) also. But my speed #5 still goes when I hammer it. I am sure what I have left is speed #2 and speed #3 and speed #5 only, speed #1 and #4 are gone. Any suggestions would be helpful as to what my problem is and what to do to fix it. One more thing, the TM is 10 years old so I have to figure if I want to fix it. Newer TM, newer technology. I guess it depends on the cost to repair.

Thanks

I had the same problem with my MinnKota Traxis five speed.  It was under warranty, so the repair, which was the speed regulator cost nothing.

I watched it being repaired.  Just a matter of removing a few screws to remove the cover of the control head. 

After that, if I recall correctly, the tiller handle assembly was removed, the speed control unit was unplugged and slid off the shaft.  A new one was installed, connected, and good to go.

Just a screwdriver was needed for the repair, though it might be a good idea to have some electrical connectors and a crimping tool just in case.