I need some....Advising?: Please tell me I'm not totally Fuc**d suggestions.

A quick intro to the car:
-05 G35 5AT
-91,xxx miles
-No modifications
-Service engine light on, probably for cam sensors
-Engine sounds well

Here is the story:
Today I bought a 05 G35 with the 5AT (Auto trans). I bought it for relatively cheap because the description on from the auctioneer said "Transmission slips".

So I go and pay for the car, then I take it on the road, here is what happens:
The car basically doesn't accelerate or make any power. If I bring the RPM's to the 2500+ area the transmission will "catch" enough power for me to move atleast a little bit. Upon driving it, it never really feels like it is grabbing ANY power what-so-ever. After enough feathering around with the pedal I finally got "skilled" enough to get the beast up to about 30mph using manual mode. However after this short trial period I just shut the car down to have it towed, I probably drove it about 5-7 minutes in very cold weather here in Michigan

BUT

A big find:
I crawl underneath the car and a hose connecting to the radiator is leaking fluid, it is just red enough to look like ATF as opposed to engine oil. The hose that is leaking is on the driver side, it runs from the radiator area to ______? But it is NOT one of the pair of hoses on the passenger side that almost all automatics have.

So my question for those reading whom may know is this:
After I fix this hose and add ATF, does anyone think that my transmission will be good?

Thanks for any advice, also if anyone has a link to a DIY tranmission swap thread or DIY ATF adding, please post it!!!

 

Terrible purchase, why the hell would you buy this car? 99% sure the transmission is damaged and will need to be replaced as they're extremely sensitive to low fluid. You need to find an oem replacement or have that one rebuilt.

 

^^ What he said!! ^^

 

Define relatively cheap???

Which part of the country do you hail from.

 

Staunch response!

The reason I bought it was because I am not afraid of dumping a grand or two into it to get it fixed. I know people who will change out the tranmission for me for about 350 bucks, that are certified master mechanics

 

The G35 was $4200 out the door including state taxes and title fees.

I live in Western Michigan

 

If that's what you paid for it then what is the concern about being f-d? From the prior statements you seem ok with the fact that the transmission is shot and you can get it replaced on the cheap. A pre purchase inspection by a shop would have most likely caught this level of damage.

 

well if you don't mind spending the money you can get the transmission rebuild for less than 1500 just about anywhere

 

Reconnect the cooler lines, and add fluid. Hope it works.