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I just picked up a 88 K5 sunday and it slips while in reverse underload. It doesn't slip in drive or any forward moving gears. Is there anything i should check or do before rebuilding it? or swaping it?
www.transmissionexchangeco.com is one of the better places I have found for tranny rebuild kits and pieces. They are a brick and mortar store in Portland OR.
Good chance it will need a rebuild. Just pull the tranny pan off and see whats in it. I have a 700R4 right now with similar symptoms. When I pulled the pan I found a lot of big metal chunks in the pan. Put in a new gasket and filter since I already bought them and filled it back up. Works good enough to move the truck under its own power around the yard till I can swap in my NV4500.