ok now this is a stupid question but i live in the United Kingdom and this is my first American car and i have no idea what type of transmission i have(700-r4?? what ever that means)and the life of it the car is a:

1983 Trans Am 5.0 v8 305 (carb) automatic transmission with overdrive, 97k

and thats all the info i know about the car apart from the person who had the car before me decided to fix the car with glue instead of paying $3 on a seal (I HATE PEOPLE LIKE THAT!!)

Also when am driving the car do i just put it in Overdrive or in 3rd? i have no idea i put it in Overdrive hope thats right?

ive also noticed the oil is pink and no smell of buring changes ok but when i wipe the stick down on a white cloth its got a slight black (very very faint)

 

yes its best to drive in " overdrive " with long peroids of driving it cuts down on engine rpm saving you some gas and lets the trans decide what gear is best but for slight gains in shifts use "D" you will notice a diffrence between D and OD

and to find out what transmission the 1982-1984 years are stamped on the transmission itself sorta like a VIN just for the trans

most likely you have the 700r4 that trans came with overdrive

pink trans fluid means its a heathly fluid and the faint black material u see is normal thats the clutch material but dont let it get too black that usually indicates wearing out clutch material