1997 Ford ranger, no reverse all forward gears fine

[SamOC]

Hey everyone,
I have a 1997 ford ranger (119,000 miles) with a 5r55e transmission and about (i hate to admit it) 6 months ago I was backing up and felt a huge bang and shutter and suddenly I had no reverse. All forward gears work fine even first, but reverse just revs like in neutral.
My intial research showed it could be the reverse band snapping, but now that I've done some more digging, ive seen it could be other things like the servos or valve body.

Heres my delimea, I'm a poor student and the best price i've found for a full rebuild of the transmission is 800 dollars. This is a lot for me, but I can manage it soon when I get my next student loan disburstment. My question is, is it worthwhile to go to a actual shop and get it diagnosised properly and see if it could be a servo or the valve body? would I be able to get away spending less that way, or am I just at a greater risk of having to spend more if they diagnosis and it actually is the reverse band. I live in a apartment so I don't have access to a lift or anywhere I can do any of this myself. Are there any simple tests I can do to try and locate if it is the reverse band

 

[transman304]

Sure sounds like a broken band unfortunately. I would not be looking for the best price when looking for trans repair. You get what you pay for (maybe). The $800 dollar price you got will just cover R&R at most shops. No one wants to spend anymore than needed whether you are rich or poor. just part of owning a vehicle. I wish you luck and hope that it is something quick and easy to repair.