Classic/Antique Car Repair: 1968 lincoln continental, lincoln continental, case change

Question
I just purchased a 1968 lincoln continental. I drove the car for a day and then it started having transmission problems. Car will click into reverse every time but nothing in D,2, or 1. It just acts like neutral. Every time i turn the car on from cold it will work for about 10 seconds and then will go out again. Have no clue what to do but guy said transmission was rebuilt 15k miles ago. help please, thanks

Answer
Hi Dan:
Because it works for a short period, we know you don't have a loose or broken linkage. It sounds like to rebuild job wasn't done very well. You should get a lot more than 15K miles from a rebuilt.

I assumed you have check to fluid level and since you can't drive it for 20 minutes to warm up the transmission so you can check the fluid level, it should read at least a quart low (possibly two) after the engine idles in park for 5 minutes or so. Is this the case? If you are not getting any fluid on the stick (or very little), your fluid is too low to drive the gears.

If this is not the case, change fluid and filter. The filter ma be clogged.