i've got a 1989 RS with a the 305 tbi and 700r4 combo. i have a high idle all the time and on cold starts, I can't shift into overdrive. When I do, it acts like it's in neutral. it'll shift into overdrive at 35-40mph from a cold start, but if i stop at a red light, it'll act like it's in neutral. it'll go into overdrive after it warms up good and even then sometimes is stubburned. if i'm going 60+mph and gun it, it'll rev out.. it's slipping i know that, but would that cause the car not to catch in overdrive on a cold start? i know it needs to be rebuild... but i can't shell out the cash right now. i don't know squat about trannys so i hope someone out there can help me out.
Thanks and happy holidays.
-Charlie

 

Sounds like worn bands and clutches, you did not mention mileage.

 

160K

 

Sounds like time for like time for a rebuild/replacment.

 

Have you tried changing the filter? If it's plugged up bad, it may be simply having a hard time sucking enough fluid through the filter to supply the tranny. When the trans is cold, the fluid has drained back into the pan and if the filter is plugged, it will take longer for it to pump the fluid through and thus supply overdrive. Anyway, can't hurt to try it, relatively cheap to do.