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The most likely culprit is the Transmission Valve Body. The reverse valve wears out the aluminum housing and when warmed up, causes the fluid to flow around it instead of pushing it. If you can rev the engine up and get it to go into reverse then that is most likely it. There is an aftermarket company called Sonnax that makes repair kits for transmissions but don't look to put the kit in yourself. The kit can be had for $19.95 but the special reaming tool is around $500.00. Look for a rebuilt valve body with the Sonnax kit and install it. They can be had on eBay for as little as $175.00. Installation is relatively easy for someone with the know how and the tools. It took me less than an hour to do mine. One caveat: read the directions that come with it! There are steps that need to be taken to reprogram the car's on board computer system. If you skip these steps, you will think that the rebuilt valve body is badly defective as the transmission will not want to go into gear and when it does, will shift very harshly. The computer has to learn the new valve body's hydraulic requirements and you have to initiate this process.

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