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P0740 is the torque converter malfunction code. The converter is in between the engine and transmission. The fluid that you are seeing is transmission fluid. It needs to go to a mechanic to narrow it down from there.
This code is set when the transmission control module detects improper voltage at the torque converter clutch. This can be caused by low tranny fluid/dirty tranny fluid/defective torque converter clutch solenoid/electrical connections to from solenoid
www.gmforum.com > ... > 1992-199 Jun 9, 2005 - Location: Bloomington-Normal, IL 1997 SE ... Default Code P1870...What does it mean??? I got a CE light the other day, and this is the code that was read word for word: P1870 ... No TCC solenoid electrical DTC P0740 ... Code P1870 & Speedometer error, Hi_tork, 1992-1999, 4, 10-16-2011 04:08 PM.
P0700 is an information code from the transmission controller to the engine controller(computer) it says "hey I'm having trouble making the trans do what I want it to!" P0740 is a trans code saying that the TorqueConvertorControl system isn't working. Could be the solenoid pack, valve body or the torque converter itself. I would recommend to leave this for a pro! $1400 is a fair price.
That code tells you that there is a problem with the transmission torque converter or the circuit that controls it. Does the rpm drop down at about 45mph or does it remain the same? Also, if you tap the brake do the rpm's go up for a moment? (that verifies it was engaged)
Hello! Well - both of these codes are in reference to shift pack issues. P0700 is related to torque management, designed to reduce the RPM's at highway speed and lock up the torque converter. If it's throwing this code, there is a strong likelihood that the clutch packs are damaged. P0740 is directly related and will most likely result in the need for the clutch packs being replaced. I wish I had better news to report. :(
I agree, this is a lot of codes. I would tend to think this would be electrical, perhaps computer are a loose connection? These trannys I have rebuilt so far usually have a couple of codes related to the problem but not this many - all over the place.
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