2002 volvo s60 T5. I've owned it about 2 years. IT's been a fun little car, no issues.
This morning I got about 2 blocks from my house and stopped at the stop sign and the car just suddenly had no transmission. It didn't make a noise that i heard or anything. No gears at all.
It does lock when I put it into park but makes reasonably ugly noise when doing so.. hard to describe: A low whirring noise terminated by some clunks.

Does this jump out to anybody in terms of a diagnosis.

I only paid $2k for the car and I suspect a major transmission repair is going to cost more than that. I fear for it's future.

 

Does the car roll when in park without the emergency brake on? If so the right axle is partially pulled out of the transmission - maybe the center support bearing walked on the shaft and allowed the (aftermarket) axle to pull partially out of the right side.

 

No it doesn't, you put it in park and it stops. ..but your reply does lead me down another line of thinking... I just replaced the left side CV axle. Add that to fact that I'm a mediocre youtube mechanic at best and maybe i screwed something up there?
I installed the CV axle about 2 months ago, and it's worked without issue until today.

 

Then the axles are installed properly - If the fluid level is correct you may have an internal transmission problem - that might be fixed with a valve body repair, or a replacement transmission