I own a 1991 Lexus LS400 and its a great car but yesterday as I was driving down the freeway I lost power and as I would step on the accelerator pedal my revolutions would just go high but the car would not move. Therefore I coasted to the side of the freeway turned off the car and checked the transmission underneath and noticed that it smelled like smoke and there was a slight drip under the transmission. I turned on the car and checked the transmission dipstick and the fluid seemed fine red in color and some what full, I added about a quarter of a quart and proceeded to try and drive it again and it drove well for at least 4 miles and then it just would not go into gear. The reverse is good on it but the drive and 2nd or 1st gear do not work. I had it towed to a relatives house until the shop can take a look at it monday but I am really worried and confused as to what might be going on with my vehicle. Can somebody give me some advice?

 

Your transmission is in need of an overhaul I'm afraid.

 

And the cost of a shop working on it will likely be more than the car is worth. Unless the body and paint are perfect, and that could change depending on who is turning the wrenches on it.

 

The JYs around me only want I think 129 for a transmission and 199 for an engine.

When my car had issues with the lockup solenoid, I went there and took a chance on a JY car and I lucked out. I got a good condition OEM part for about 15 bucks vs. the 300 that lexus wanted + tax at the dealer.

So that would be my suggestion. Most of the time, if you can see if the car was hit in the rear end or T-boned then you know the transmission would still be good, due to that damage putting the car out to pasture. Just make sure to visually inspect the case for any visual damage and leaks obviously and get all the necessary mounts you think you'd need for yours, if your car needs them.