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When the speed sensor goes out the transmission goes into limp mode and will not allow the car to shift out of first gear. You can purchase a new out-put speed sensor from any dealership for about $17. To replace it you will find it on the driver side of the transmission case it is very simple once you locate it, the old one screws out the new one goes right back in. Don't forget to disconnect the battery before replacing so that the computer will reset itself.
If the computer does not reset, remove both battery leads (NOT THE BATTERY TERMINALS and connect them with any object that will conduct electricity, FOR APPROX 10 SECONDS it is what is called A HARD RESET. (AGAIN DO NOT CONNECT THE TERMINALS JUST THE BATTERY LEADS ON THE CAR)
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