My 96 Volvo turbo wagon has been experiencing loose front end issues, wandering etc. It clunks when put into drive in morning and reverse as well, than smooth sailing until the heat of the Arizona sun sets in, than transmission fails and just revs in all gears. If I turn the power off, than on again I can get it to shift in all gears, but than in a few 100 feet, sometimes more sometimes less, it fails again and just revs. Now there is a rattle when applying brakes in drive or reverse. Transmission fluid when drained is black. Looks like possible loose engine mounts too. I'm a teacher, and of course school starts Monday, and I need to know if there is any hope for "bumping along in my little red wagon".

 

It's hard to say. I'm in the middle of having my transmission replaced. Mine was slipping real bad. The think is, 1st gear is likely gone. So, if you shift to 3rd, Low, etc., it is still looking for 1st gear to start you off. Here is a silver lining... Push the WINTER button and the car will bypass 1st and 2nd and start out in 3rd. You will have no torque because 3rd gear is not a normal starting gear but it may get you going.

Here is the problem I was having: https://volvoforums.com/forum/volvo-...t=transmission

 

The trans sounds like it's shot. As in something internal wore out but .... I purchased one with over 200K and no history. I finally couldn't stand the trans fluid anymore (black like yours) and flushed it. I was worried it would slip worse but it actually firmed up . I used type "F" instead of the dexron III. Yours is more than just fluid though or it's slip in all gears. For the symptoms you're having you might want to take it to a transmission shop that would do a free test drive or diagnosis to get their opinion.
Do you have a check engine light on and if so have you read the codes? Is the arrow blinking on your dash?
It sounds like you have a few issues going on besides the transmission that should be addressed for your safety and those around you.