My 1998 expedition 5.4L 4x4 (160,000 miles) was flashing the overdrive light.

Appears to drive okay. Will only sometimes flash the code.

The code dumped was a slip between the engine and tranny (ie. torque converter).

So the transmission is dropped in the shop and I am having the torque converter replaced ($1100)

The transmission shop owner is giving me the option of looking further into the transmission.

Open up the back end of the transmission and see if there is any damage. A look and see for ($1500).

His price for a total rebuild is ($3000). I am relunctant to put much money into this truck because it is so old. It is shifting and has all gears.

Anyone have an opinion?

How much does a new transmission typically cost?

Thanks,
John