Hey everyone, I have a 1994 Firebird Fomula. It has the 5.7 motor with the 4L60E Transmission. Whenever I punch the gas, as I‘m driving down the road, the transmission just slips and wont shift , so I have to let off the gas , so the motor doesn‘t red line. As I drive around town normally , transmission shifts just fine and you cant even tell there is a problem. I suspect its something to do with the overdrive, since if I run with the trans in 3rd and punch the gas, the trans doesnt slip like it normally would if I flored it. Any Ideas whats going on??? Please Help!
The transmission is past its prime. It is wearing out. You could have the bands adjusted and get some more time out of it, but the new Formula is, drive like a little old lady. Shop for a rebuilt transmission while you still can drive.