big transmission problem
 

i have a 1998 mirage with 272,000 miles that i bought for $600 on craigslist. i was very impressed with this car. despite its many miles, it was very reliable. the only issues it had were with the wipers and the window regulator, which we fixed. it passed smog with practically no emissions.

i let my friend borrow it for a short trip, and i soon received a phone call from him telling me that the automatic transmission had died. apparently he gassed it hard to pass another car, and he said that the car downshifted and then the transmission just died. it won't move forward or backwards. the engine revs. when i move the gear shifter, it moves freely with no resistance. i do not hear or feel any click as it moves through the gears. it seems so sudden and without warning.

is it possible something in the linkage or gas pedal has been disconnected? the transmission hadn't given us any major problems, but, to be fair, i should add that often when starting from a stop with the car in drive, it would sometimes act like it was in a lower gear and gradually speed up. also i often noticed a bad smell, which i now realize might have been overheated transmission fluid.

any comments and ideas are appreciated. thank you