tc solenoid
 

Hi I just joined the UBC, greetings to all the members! My wife drives a '2002 530i. The service engine light is on and we can't get it smogged. The tags are due. Well we took it to BMW and they say it needs a new tranny at a cost of around 6k. The car might barely be worth a little more than that. It is still in decent condition so we are trying to figure out what to do. The code that was read is po741. The car shiftes perfectly, no loss of power nothing, no slippage. I am thinking it might be the torque converter solenoid because the code says that it is stuck or it is off. Any thoughts or comments on the way I should proceed? Do I find an indie shop to replace the solenoid or is it a diy job? and what does one look like? Appreciate any info. Thanks.