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I have an 86 fox body convertible that we had a problem with the other day. The lower transmission cooling hose slipped off the pipe it was clamped to that connects to the radiator, and I lost 2/3 or the fluid in the transmission. I was coming into an intersection, slowing, when I felt the transmission slip and not drop down in gears, I was able to pull into a parking lot, and by the time I got the car stopped smoke was pouring out from under the car. I immediately shut it down, thinking that there was something electrical going on, but it was the trans smoking I was able to get it pushed into a parking space, and the next day got under the car and saw the disconnected hose. I got to putting a new clamp on the hose, reassembling it, and refilling the trans with new fluid, and crossed my fingers. It seems that 1st gear slips a lot, especially when cold, then runs through the gears with little problem. My question is, what is the harm in driving it in this condition, and what might be involved with a repair? If I took it to a transmission repair shop, would they just tell me to replace the whole trans given what happened? I am looking for some advice and appreciate anyone's help! Freaking out a bit...