The cable end is located inside the tranny? Naaah, surely not, cuz Kevin suggested spraying with WD 40. Owell, I will toss this out. If it won't work because the installation isnt what I was thinking, you guys can still get something out of it.
There is a product called Ospho, available thru Kelley Moore paint stores. We used it on a drill ship during an overhaul. It is a dilute phosphoric acid & turns iron oxide into iron phosphate, a black, hard material. It isnt a primer or a paint, it causes a chemical reaction, not a fast, exothermic type, just a mild reaction & the rust is no longer rust, but a harmless phosphate. The quart I have is over a year old. It is handy to have around the house. As long as rust isnt allowed to develop into flakes it requires no prep work to treat it. Once treated,it can be left alone, no paint needed any more after the treatment than before. It can rust again in the places the steel isnt changed to phosphate, & I guess the phosphate can oxidize, but I dont know what its called if it does.. Anyway, that kills rust. Cheap, too.
Ohh, BTW, I used WD40 to pickle a transmission, all taken apart, pieces laying on pallets , sprayed a ton of WD40 on it. Went up & looked at it, in storage, a few months later. Rusted to pieces. WD40 evaporates. It is solely a Water Displacement thing, Not a long term lubricant, But, I suspect about everyone knew that already. I was shocked thew day I learned it. Glad I was TOLD to use WD40 & it wasnt my idea.