Rebuilding transmission

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Hi - Not sure if I'm navigating this correctly so sorry if I'm in the wrong place and sorry for the length. 

I have a 2004 Volvo V70 turbo, automatic. I bought it used 3 years ago so I don't have a long history with it. I noticed shifting was a little rough but nothing too bad. It seemed to be increasing still happening occasionally - kind of lurching/ bucking but not terrible. Then the Transmission service required and check engine light came on and I guess it went into "limp mode" where it doesn't go over 20 mph and feels like it won't accelerate but it does, just very slowly. 

The volvo mechanic I use for maintenance checked the computer and said code was indeed for the transmission and I'd need to have it rebuilt. He reset/ cleared the codes and said it was ok to keep driving while I decided what to do. On drive home it drove fine. I called his tranny guy who said NOT to keep driving it so I towed it to the tranny guy.  They ran tests and drove it and got the error to duplicate. The got the same error codes - 

  1. TCM 0001 code
  2. error no/low input turbine speed loss system pressure

Initially they said it could just be the value body but after inspection and based on the codes/error they said it would indeed need a new tranny.

Cost would be $3,700 - 4,500 the range depends on how the valve body looks when they get in there. If they can rebuild it it's $3,700 if it's trashed and they need a new one then it's $4500. Price includes parts, labor and tax. 

My other maintenance volvo mechanic is gave me his tranny guy and I've talked to him but they haven't inspected the car. 

  1. Is it worth getting a tow to this other mechanic for a second opinion?
  2. Does it sound like theres anything I need to ask them to check? Warranty wise - one place does a 2 year/24Kmi the other does 1 year/12Kmi
  3. If the rebuilt tranny is $4K is it worth putting the money into it? Im worried I'll do it and then some other major issue will happen. 
    • It's a 2004 V70 turbo
    • I paid $6,500 3 years ago
    • It has 144,000 miles on it
    • I can't really afford the $4K to rebuild and I can't really afford to buy a new used car

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