Transmission help 02 explorer?

I have an 02 4.6 L V8 Ford explorer and the transmission went out. It won't go to 3rd 2nd or 1st gear doesn't reverse or drive and when I shift it to park it makes a loud rattling noise. I was driving it on the highway when it started to just jump forward and the speedometer suddenly went to 120. I pulled over and when I went to drive it again it wouldn't budge. Do I have to replace the entire transmission or is it just a part in the transmission that I have to fix?

You are looking at a transmission rebuild. Listen, with the time and effort involved in removing and opening up the transmission it just doesn't make sense to do a minimal repair for say $1,000.00 leaving metal shavings and a bunch of worn parts when $1,500.00 will get you a complete rebuild with a warranty.

Will need rebuilt. No shop will take the transmission apart and just replace part worn or broken. They will do complete rebuild and give you a warranty. You could go to a junkyard and get decent used transmission to save money and either do it yourself or have a shop install it. Now if you buy the transmission and want shop to install it and that transmission goes during the junkyard warranty the shop will charge labor again since you supplied the part. More help/info find local shop at ATRA.COM

If you plan on keeping the explorer then your best bet is find a good low mileage transmission from the junk yard or have your transmission rebuilt! But no transmission will go that far tearing it apart and replacing one part! If you check around you might find a rebuilt transmission at a reasonable price!