Is my Transmission dead?

2003 Ford Taurus 176K
Automatic trans
Was driving my car just fine down the street yesterday and all of a sudden it just stopped accelerating but engine was reving up while i was pushing down on the peddle. Car will not go in reverse or drive, or the 1 or d. Car won't even shake or anything when switching gears. Car still starts up perfectly fine. I didn't hear any noise at all when this happened, it just all of sudden failed. I checked the fluid while car was running and it was at a perfect level. Not dark or anything it was a light color still. Car wasn't slipping or anything. Was lagging for 1 second when accelerating fast. I pretty much said F this car I'm buying a new one. Good idea? Thoughts?

A 2003 Taurus with 176k? There's a decent chance that's the second transmission that just died. Those transmissions were truly awful, hence why they are virtually worthless on the used market. Junk it and buy something else.

If the car doesn't move when in gear and the motor revs the tranny is junk.

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