I've got a 96 Firebird, Stock Trans. I can drive normally in 1st and 2nd and it shifts smoothly, but it slips alot going into 3rd then when it does it acts like it's in Neutral, Revs skyrocket and then it just coasts. Won't even move in 3rd or above gear. Checked the fluid and it looks and smells fine.
Is the tranny gone in it, or what's the problem?

 

Unfortunately you have a failed 3-4 clutch set and will need to replace or rebuild the transmission.

 

I had a very good feeling that's what it would be. I just bought the car 3 days ago. I'm gonna see what the dealership is going to pay and if it isn't up to snuff to what I think I'm owed, I'm gonna give em the finger and order a Trans from You folks at Performabuilt!