My T5 just blew last night lost 3rd and 4th, its a '87 camaro iroc, i knew it was just a matter of time as i recently swapped out the old TPI 305 in favour of a new mild 406 sbc with roughly 350 HP. Id love to put in a t-56 or tremec but money is a factor. Im thinking of trying a swap to a automatic as they are alot cheaper and more easily aqquired. Im just wondering if there is anything i need to know regarding common problems im going to run in to and any suggestions for which auto trans would be a good fit for the setup. Any help appreciated.

things you need....

Correct tailhousing for torque arm mount
torque arm bushing and bushing housing. they are different for auto and stick
shifter
shift cable
shift cable bracket to mount on pan
console trim plate
if you want to wire up reverse lights and neutral safety switch, patience. and wiring diagrams.
speedo gear setup

it's not difficult. just don't get in a hurry, and do it right.

Id also plan on doing at least a mild build-up on the trans you will be using. A stock 700-R4 or TH350 from a yard will likely not last long. Same thing for the junk ebay "performance" transmissions. You can do a good build-up yourself for around 500-800 dollars + cost of transmission, or order one from a reputable builder. If your looking for quality, dont be surprised if the transmission + install costs almost as much as (or possibly MORE than) purchasing a TKO. Doing an automatic transmission yourself is possible, as long as you do the research. Theyre complicated to build, but if you take your time, it can be done, and at a considerable savings.

Thanks for the imput so far guys, just great. I haven't 100% decided on automatic. I want a nice manual but money is holding me back. Whatever I do decide to do im going to take my time and do it right becuase otherwise im going to be doing it again too soon. I guess i better get that insurance off and start saving!

when I bought my car the previous owner was in the middle of a manual to auto swap. I considered going ahead with the swap for about 10 mins. I had the wiring diagrams but I guess I lacked patience haha. would rather have manual anyway

Let's be honest here, a stocker rebuild with a mild shift kit can handle your motor. And it's cheap. And if you don't bother with wiring, the swap is super simple. Do what you can afford now and keep driving. Save the money for a t56 later on down the road.

Just my $0.02, but fix your T5. Take it easy on the trans (that means stop powershifting it), and do the T56 or Tremec that you really want later. If you're a stick guy driving an automatic sucks. Plus, why spend your hard earned bucks on a swap that you don't ultimately want anyway? You won't recoupe the cost of the swap by selling the 700R4 later. They are all but worthless used (trust me I've unloaded three of them).

I have all the parts to fix your T5 (I literally have stacks of 3rd gears and four or five input shafts too), and can do the fixing for you if you need that too. PM me if you're interested.