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Q: I have a friend who recently bottomed out on a small rock in their friends driveway and the shop now tells him the transmission is bad Chevy Cobalt

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It was cold out to and the car was not warmed up maybe 28-30 Fahrenheit

My car has 70000 miles.
My car has an automatic transmission.

Hi - yes, it is certainly possible to ruin a transmission by running over a rock or other "unmoving object". If the fluid leaked out, the transmission could be damaged in minutes. If the transmission case itself struck the rock and broke the case - game over. Replace the transmission. I would recommend a transmission inspection to validate the diagnosis by a mobile, professional mechanic, such as one from YourMechanic, who will come to your location, diagnose this problem, give you an accurate assessment of damage and cost estimate for repairs.

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