I was driving recently and the transmission was pulling, then the check engine light came on. When I got to my destination ~3 miles down the road, & tried to back into a parking spot, the car would barely move. It goes into gear but only moves sometimes. The OBDII pulled code P0740 - Torque Converter Clutch Circuit Malfunction. What does that mean. Do I need a new tranny?
P0740 refers to a faulty lock-up control system in your automatic transmission - lock-up clutch doesn't engage.
There's the step by step way to resolve the problem. You'ld have to measure the line pressure at the lock-up control solenoid valve to find out exactly what the problem is.
Typically thre pressure should be between 120 - 130 psi at 2000 rpm. If you have none or low line pressure while in gear N or P, it could be caused by a bad torque converter, ATF pump, pressure regulator, or torque converter check valve.
If it falls within specification, you may be luck to just have to replace your lock-up control solenoid ($46 from ebay. Com)