ok, so today i decided, ...hey im gonna put a new tranny filter in, ....130k on the car, not a bad idea, so....drop the pan, get fluid every damn where, knowing this was gonna happen, no biggie, ...take the pan off, look inside, and theres something ODD....and i dunno wtf it is....on the INSIDE of the bottom of the pan, ....bottom right if the back is facing you, ....theres a lil 2 inch by 2 inch square, of this silver sealant type stuff, ....has ridges on it, ...looks like a silver sun-chip lol.. its not runny, but it could be wiped out....what is this stuff?? and should i leave it be, and wipe around it???? oh and can i use a cork gasket???

 

OK, don't know about the silver sun chip but you should be ok with the cork gasket, also while you have the pan off go get a retrofit drain plug so next time it won't be such a mess.

 

It's a magnet.

 

Its a magnent to keep that sludge from working its way through the transmission. That sludge is made up of tiny metal particals. With that many moving parts inside the transmission, its inevitable for parts to wear, and that "sludge" is the by-product of wear. Simply clean the magnent off.

 

doh, i left the sludge on....and put the pan on......CRAP.....oh well...the tranny still leaks, seems to leak from the torque converter shaft.....or at least somewhere near there, ...and my tranny slips going into third as well, ..i say its just time for a new tranny.....anyone trust used trannys?? or get a remanufactured one for 700

 

When money's tight, I usually just hit the junkyard for replacement trannies. Figure they were working when the bonehead wrecked the car, right?

Most 'yards have a warranty so as long as you don't drop the valve body or do any surgery on it you can get your $$ back if it's problematic. Just drop the pan, clean the magnet this time install a new filter, and put it in the car.