1995 Pontiac Firebird Formula - Transmission Problems?

[Steve]

It's a 5.7 lt1. has 101,700 miles and it's an automatic
someone is selling it for $1,300.
the thing is the reverse does not work( it only works for the first minute after a cold start) the guy who is selling it said he has never changed the transmission oil and the car has been sitting for like 2 years. could it be that the oil is really old or is the transmission bad?
I really want to buy it but i wanna know how much it would cost to rebuild the transmission or swap one out?
also is the car is worth 1300?

 

[AndersonRacing44]

well theres a problem right there lol, the tranny has never had the oil services and being a firebird it was probably put though its paces (street light racing).

Warm the car up a little then check the trans fluid (with it running) the normal color should be a dark red kinda like cough syrup color. if there is a problem the fluild will most likely be a brown color with a metalic look in it from the metal/fiber clutch plates inside.

 

[AndersonRacing44]

sorry didnt aswer your other question. just plan on spending anywhere from 1000$-2500$ on a rebuild.