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Engine light on

The check engine light is on. I have had 2 mechanics put a code reader on it and they both gave me the same code. They both say I have a problem with my transmission, but I do not sense any problem with the operation of my car. I do not feel any transmission problem. should i get the transmission fixed now or wait until I feel the problem?

Wait A Second, Here. What Make, Model, Year, And How Many Miles On This Vehicle?

Also, what did they say needs to be repaired? Some repairs can be minor, some major.
Do you have an estimate?

CSA

If the code being generated is transmission related, I’d suggest that you not wait until it’s causing a problem. Right now it could be something relatively innocuous and inexpensive; letting it simmer until it makes something actually feel wrong could make correcting it cost a whole lot more later on.

What was the code, did either of the mechanics provide you with it?

And what were the codes? (Like P1234)

The car is a Chrysler LHS 2001 with 111553 miles. The code was 740 (i think) the torque converter problem. The estimate is about $2500.

The code was 740 I think. A torque converter problem.

It was suggested that I get a new or rebuilt transmission. The code was 740 torque converter problem.

What kind of torque converter problem? Not locking up when it should? Could just be a solenoid or simpler problem that’s much cheaper to fix. In any case if they’re recommending a full rebuild or replacement just to fix this, what’s the worst that can happen? If it ends up destroyed you’ll need a full rebuild or replacement anyway. Others may disagree with me, but if it shifts OK and isn’t slipping, and the fluid is clean, not burnt, I’d probably ignore it until it dies—especially with over 100K on it already.

The DTC P0740 is for: “[A problem with the] torque converter solenoid circuit [is detected]”. The repairs would be to the exterior of the automatic transmission.
You need a capable mechanic. There are troubleshooting charts, for the mechanic to use, to discover and repair transmission problems, such as this. Troubleshooting is the first step; not guessing at a solution.

OK. I will get an analysis from a transmission shop. Worst case scenario is that I will need a new transmission.

I’m not sure what kind of torque converter problem. No, it is not locking up. It is not slipping. And the fluid is clean. I will get an analysis from a transmission shop and go from there.