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Transmission "slipage" 740-760 1986

ICQ>6742820

I have a 1986 740 GLE. After it has been driven for 40 or so minutes, the transmission completely gives out and quits sending power to the wheels. The engine will rev but the car continues to lose power until I am sitting still. Even if I shift the car (putting from D to 1,2, or 3) nothing happens. One mechanic has told me I need a new transmission, does this seem correct? If I let the car sit, it will shift and drive normally again for the same ammount of time.






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