My 96 GT's transmission will rev to 5000 RPM if I let it in 1st gear (when I'm not even pushing on it) and not shift into 2nd. If I let off the gas, it will shift. But if I don't completely let off the gas, it will not shift and will redline. 
It seems to only do this going from 1st gear to 2nd. However, if I floor it on any other gear (like 3rd or 4th for example), it appears to downshift and go to redline if I let it (just like it does from 1st to 2nd), so I can't get it to take off because if I try to it will just go to redline and not shift until I let off the gas like it does from 1st to 2nd.
However this only happens in the other gears if I'm flooring it. If I drive normally/non-aggressively, it shifts fine in all other gears without me having to let off the gas in order for it to shift.
My question is... what type of issue is this? Sounds like a transmission issue, but since it seems to shift just fine when I let off the gas, I'm hoping its something else that isn't that serious? Like the car computer maybe?
Any idea what might have gone wrong? And if so, how much it should cost to fix?
Thanks in advance guys!
It seems to only do this going from 1st gear to 2nd. However, if I floor it on any other gear (like 3rd or 4th for example), it appears to downshift and go to redline if I let it (just like it does from 1st to 2nd), so I can't get it to take off because if I try to it will just go to redline and not shift until I let off the gas like it does from 1st to 2nd.
However this only happens in the other gears if I'm flooring it. If I drive normally/non-aggressively, it shifts fine in all other gears without me having to let off the gas in order for it to shift.
My question is... what type of issue is this? Sounds like a transmission issue, but since it seems to shift just fine when I let off the gas, I'm hoping its something else that isn't that serious? Like the car computer maybe?
Any idea what might have gone wrong? And if so, how much it should cost to fix?
Thanks in advance guys!