I have a 2003 Volvo S60 2.4t automatic with 212000 miles. Car has been making a highpitched noise (sounds like metal grinding when first starting) in the left side of the engine compartment (siting in driver seat). Been fearing it was a transmission problem and now I think my fears have been realized.

Was driving when my car started to lug around and not accelerate like normal. Pulled over into a private road and tested for out for a while. Car would not move in either drive or reverse but engine will rev perfectly fine. Got it to engage eventually but would max out at 20mph and when I switched it to manual mode at 20mph the car would be in 3rd or 4th gear.

Checked the transmission fluid after turning off and it was passed the “not” on the dipstick where it says “do not fill pass this point” above the hot lines.

If I let it sit it’ll run fine until it warms back up which is when it loses all gears again.