I’ve got a 2002 Dodge Neon SXT with 87,000 miles on it. While driving home I stopped at a light, and when i pressed the gas it simply revved. Any thoughts other than the fact that i might need a new transmission? If it is a new transmission what can i expect to pay to have it rebuilt?

Yes, you might need a new transmission, especially in light of Chrysler’s record over the past few years with their automatic transmissions.

However, I would begin by checking the level of the transmission fluid, as well as its color and odor. Ideally, the fluid should be red in color and it should not have a burnt smell. If it is brownish and/or has a burnt smell, that is a very bad sign.

There is a possibility that you are just very low on transmission fluid. If that is the case, add the proper type, as per the Owner’s Manual, and afterward have it checked for leaks.

Transmission fluid is full and has been changed within the past month…no burnt smell. A friend said it could be that the vaccuum hose came off, also the check engine light didnt come on until after it sat for a day and i restarted it and added some Lucas Transmission Fluid. Still no movement only revs. I also heard that the filter might need to be cleaned and the fluid flushed and this might do something. Seems hard to believe that with 87,000 a transmission would be dead. Any thoughts?

You need to hit the transmission shop up and get it scanned.
A few additional comments.
You did not state if the transmission was acting up before you changed the fluid. Or was the fluid change an effort to cure a problem?

Buy the car new; as in 4 or 5 miles on the car new? If not, there is no telling how it was treated in a past life. A couple of years ago at the drag strip here on a test-and-tune night a car salesman showed up with what was obviously a demonstrator (Neon SRT) and beat that new car to death all evening long.
Wonder what the future purchaser of that car thinks about Neons and Chrysler transmissions?