These transmissions are known to go bad if poorly maintained by around 150,000 miles or sooner if really abused. Some go longer without any troubles.I would use it in just drive and plan on changing it if the rest of car is in good enough condition. A good used may be less than a rebuild but price the whole job to be sure. Your 88 has the same tranny as Buick Lesabre,Park Ave - Olds 88, 98 and other GM FWDs as well. Great cars, I have a 86 2dr. LeSabre, and a 86 Riviera.My Delta 88's are 1975 and 1976.Good Luck
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86 LeSabre Limited Coupe 3.0 litre
86 Riviera 3.8 litre
91 Regal Limited 3800 cc traded for '99 "88" anniversary edition - mistake
82 NewYorker 318 ci
75 Royale convertable 350 ci
76 Royale 2dr Hardtop 350 ci
97 LSS L67 3800cc SuperCharged