I've checked the transmission oil dip stick yesterday and it did seem like it was somewhat low on oil but I didn't catch any burnt type of a smell. I'm going to town to replace my transmission oil right now and I'll see what happens afterwards.

BTW, how much would it be to get my transmission rebuilt? And is it worth it to rebuild my tranny? cuz i did buy this car for just $1500 and its a cheap old car afterall..