2003 Mitsubishi Spyder P0456 and P0734 Error: What Does It Mean and How Serious Is It?

Model: Mitsubishi Spyder Fault Code: P0456 Posted: 2016-01-11 15:31

My 2003 Mitsubishi Spyder was running smoothly until recently, when I heard a loud 'pop' while driving. Since then, the car runs but fails to shift through any gears. The check engine light is on, and the diagnostic codes show P0456, P0734, as well as P0456P and P0734P. I'm wondering whether this issue is minor or if it requires a full transmission repair. Can anyone explain what these codes mean and how urgent the fix needs to be?