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Mine did the same it had a broken band and bad clutches with 400 for a new converter and paying a mechanic to do the work it cost me 1700 total.
 
800.00 here to get a 904 rebuilt includes reman'd converter. Ofcourse that is my removing the trans and take it to them.
 
For $3000 you can buy a bunch of those. That's way too much for a rebuild. Someone on this board might know of a tranny guy in your area. We have a guy in our area that rebuilds our 727s and 904s for $450 complete.
 
Transmission shops generally charge $400 for R&R. I have a friend of mine who owns a transmission shop which sells parts to the transmission shops. He also has 5 lifts for his own customers. My last 727 built only cost me $700 w/R&R total...but it took 6 month because mine was on the back burner. What I would do is look for a Tech School which taught automotive skills, call the teacher and find out if you could bring in a tranny to be rebuilt. We have a teacher here locally which does it on the side. If you can find one, pull it yourself or find a shade tree mechanic for half the price.
 
You want a stock-style rebuild or a super awesome race badass?
 
Yeah, that's waaaay too much. I got my 727 rebuilt with a new tc for $700.
 
$3K? Wow. First thing you need to do is find another mechanic / trans shop, and NEVER go back to the clown that quoted you 3K.
 
That's high even for California. Better shop the work around to a couple smaller transmission style shops. That sounds like a Amco quote
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I took out my 904, bought a rebuild kit with the good clutches, etc for around $200, and talked to some local mechanics and mopar buddies, found a guy that has been a mopar tech for 30+ years and pretty much focuses on transmissions, he charged me $150 plus any other parts (I think it was another $50 or so in parts) and it works great. I put the manual valvebody in it myself (about $230) and my converter was about $400. All in all, a little over a grand, but I trust the guy that did it (found out he has known my dad for longer than he has been a mopar tech, and they used to party as teens and when I was a kid lol) and it works great. I'd talk to some local guys, ask around. You did the right thing by posting on here!
 
I agree, 3K is stupid expensive.

Like others mentioned, find a local that does transmissions with a good rep. Ask anyone that drag races a mopar, they will know. There's a retired guy down here that does them for 150-200 + parts, likes to keep busy.

Or, learn to do it yourself, they are VERY easy. There are books, videos and guides to build them.

Sounds like the forward clutch pack is burned up.
 
$3k is insane to rebuild a torqueflite even if it were so bad they had to replace the entire thing and charge you for a core. Like the others said, find another shop or a local guy with a good reputation that does it on the side.
 
Holy cow! Go buy two more Valiants and drive them till you learn to rebuild your own.
 
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