Need transmission help!! 700 R4

Okay, so ive recently bought a 88* Formula, i got it cuz i *Gasp, could it be?* a camaro owner!

it was a fun driver, kinda a thing to get around with, v6, rusty, it was my first car and it was fun..but i needed something faster, nicer..
so i bought a 5.7 v8 firebird..

two days after i bought it, (those two days were awesome, btw)

the transmission crapped out on me!!
it totally stopped engaging. im wondering what the problem is.. like i said, its a 700 r4 transmission, and it does shift.. ive jacked the rear wheels up and got the speedometer to go over 140 mph.. with no stress on the rear wheels, its totally fine...

once the wheels are on the floor, it barely goes 10 if i gas it hard.. i was wondering if it was the transmission, the vaccum modulator, or what..

it might be my imagination, but it sometimes feels like my car moves in neutral!! (could this be?!) ive tried holding it between gears, and gasing it, to see if its just the cable length throwing it off; it wasnt.

so now, im lost, confused, and wondering what the hell im supposed to do..
ive found a cheap rebuilt tranny on EBAY! for under 600 (every place around me says over 1K to rebuild >_<; since i live in hawaii)

thats the biggest prob ive been having,

but i was also wondering how fast the car can run a quarter mile, how much hp it had.


my mile-counter thing..i just forgot what its called... also doesnt work. im guessing its a gear behind the console, since the speedometer and the tach work..



this car is like my dream car so far! ive always wanted a american muscle car.. (426 charger, '69 was my actual dream car..but hell, how am i gonna get that?!)

im 18, and ive bought this car by myself, with scholarship money, work money, etc. i was wondering what the chepaest fix would be...

thanks for your guy's help... ill be posting pics one day, when i can get my car to move..

btw, ive also changed the filter, trans oil, so its not just clogged, i think.. it does move however..

can it be like the vaccum modulator or the friction plates... or the band

and if it is the band, can u adjust a 700r4 band?! i cant find it in my transmission repair books..

so like..does anyone check this thing?!?!? cuz i really really need help.. :/

As dumb as this sounds, changing the fluid may have loosened up the crap in the tranny that was allowing it to engage. It doesnt mean that changing your fluid was a bad thing, but it may be why its not working now. It sounds like the clutches in the tranny are shot and its slipping under any kind of load. Your probably looking at a rebuild which should be around $700-$900 bucks or so. It was a little more than that about 5 years ago when i had mine done so im hoping the price has gone down as the tranny has become older and more common to be rebuilding.

yes, sounds like a rebuild. It did the exact thing on me when i burnt my 1st gear clutch plates. i had a 1.5 grand rebuild with select perfomance parts added, and a few extra clutch plates so i couldnt tear the sob up again.