I recently bought a volvo s60 2.4 FWD, with 106,000 miles. When starting the vehicle the check engine light came on, along with message "transmission service required" also in yellow triangle !. When stepping on the gas pedal the vehicle didn't seem to have any power. The codes that came up on the reader were 700 & 705, after clearing codes the car seemed to have it's normal pick up, but I am concerned about what the issue could be, since I have only had this vehicle 3 days. I have been told there are software updates for this model and may be the problem.

 

I believe the P0700 code means a solenoid is bad. If that's the case, you need a new valve body. I just had mine replaced along with the torque converter. Pain in the ***. If you have the geartronic tranny, they will need to drop the tranny to do it. Cost me $3200 for new valve body and torque converter. If you recently bought it from a dealer take it back and get a new car.

 

Please forgive my ignorance but is it possible to just replace the solenoids from underneath without pulling out the trannie?

 

If you bought this car from a dealer, take that $#@!$ back asap and show them. Sounds like the tranny fluid has never been changed, prob no software upgrades, and no tranny filter...etc....
Keep in mind, from what i have read, the software update eliminates the switching to neutral when letting off the gas pedal, correct me if im wrong.

As far as valve body repair, i dont believe you need to drop the tranny, but it is a very involved repair, parts are not cheap, there are threads out there about this procedure. Brennan.Messick mentioned replacing the TQ conv. - that does involve dropping the tranny to remove\replace that.