Re: 98 Chaparral 2130 SS
Okay, what make of engine do you have? But regardless, the power steering fluid reservoir should be on the left front of the motor. On my 1997 5.7 Bravo, it was at the top, very easy to get to. It's the one with the orangish stick. But on some engines. it may be down where the alternator is on mine.
That said, power steering fluid from Mercruiser and VP is not red, usually. Of course red fluid is usually transmission fluid. And yes, some people use transmission fluid to refill power steering systems. I had a hole in the return line to my power steering pump, that was caused by years of the actual stering rack rubbing against it. Wasn't hard to find at all. And to replace that hose was not expensive, because it is the same as transmission hose, so it was just a matter of cutting a piece to fit. Now if it's the high pressure hose, that'll be more money. But if it was the high pressure hose, you wouldn't have any fluid left at all!