With the code p0500 can it be transmition problem

Question

Would the transmition had gone bad when the code come up.

Answer 1

No, most of the time  this code is generated in the instrument panel, , or a fault with the cruise control, you can even set this code as pending if you drive with both feet one on the brake and one on the gas pedal., The most this code would do is have a erratic speedometer or no speedometer.