trans failure

98 1500 Quadcab 4x4 316 auto. When I was driving one day the OD light was going on and off. Then I lost it. When I was on the way home a couple days later There was a grinding like noise. I stuck it in neutral and back in drive it happened twice. Half way home the Trans heat light came on. When I got home it was smoking and there was fluid all under the truck. And the fluid definatly smelled burnt. I let sit a couple days started it up I don't know about OD but it will go into all 3 gears and head forward. I stick it in reverse and it gets alot of hesitation I don't even think it is making contact. anyways anyone out there have any clues. To get this rebuilt it is going to run $1400 - $1650 a Junkyard trans $ 1000. Any knowledge is appreciated Thanks in advance.

1400 is expensive.. where did you go to get that quote ? normal rebuild is like $400-500 labor + parts.

Trans shops in Wilmington NC, The total rebuild was 1650 the same guy said if it is the lesser of the 2 evils it would be around 900.

It cost me almost $1,700 to have mine rebuilt. But i would have been 500 less if they could have gotten the O/D apart to fix it.The guy at the trans shop said Dodge put a plastic check valve in the cooling line so when the trans gets hot the valve melts. Then you let it sit over night then the valve is stuck closed so i starves the tranny for fluid. So anyway make sure they take that valve out. Also the price you listed is not bad if it carries at least a 12,000 mile warrenty.

Dodge does put a plastic check ball in the bottom line towards the radatior.When a Dodge truck come in for a transmission rebuild,my father check for that plastic check ball.If that line has one in it,it get drilled out.My father removes the rubber hose part of it and drills it out that way.

There is a rubber gromment that goes aroud the crankshaft position sensor,Make sure that is thrown away.It make it a pain in the butt to put the transmission in and and will break the crankshaft position sensor.The crankshaft position sensor is a pain in the butt to change thanks to the engineer who thought of that