So I just bought a Honda Accord for a 1,000. Basically the only drive gear that works is my D3. The 1st, 2nd, and D4 gears won't let the car go past 30-40 mph. Is this a serious problem?? What has to be fixed???
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Sounds like the transmission needs to be replaced or rebuilt. Expect to pay $1500 or more to have the work professionally done. If you can figure out how to install a replacement, you can probably buy a good one with warranty for $900 or so, and might be able to find a working one as-is for a lot less.