The OBD gives codes specific to the problem which does not mean "must take the whole thing apart". You need a second opinion from an honest shop. Without the specific code nobody can guess the problem. The shop you went to did not tell you the truth or anything that makes sense.
No. That like is mostly a scam to get you into a dealership. It is designed to go off randomly for just this reason. Your car is probably fine. The light is just hooked up to many sensors that can trigger for hundreds of reasons. Older cars never had those stupid lights and ran just fine for hundreds of thousands of miles. If you have a driveability issue that is another story. Make sure it has adequate fluid, etc. I know people who cover those lights with black tape- no more light!
What car is it? Volkswagen: light on = normal, light off = problem lool
Its usually a crappy sensor that messed up and flags a fault code. If everything is mechanically sound under the hood, keep running it.
Listen closely: The dealer of the car can read the stored fault code and then will know EXACTLY what is causing it with no guess-work or parts the car doesn't need.
if you have emission test coming up soon that torque converter code will flunk the test. also will loose some mpg not much but it will be noticed if you kept track of the mileage before. find local shop at ATRA.COM for more info
it has come on a couple times through out the year, twice read o2 sensor, twice read transmission torque. the trans was checked and they said yes but would would have to take the whole thing apart and just run it till it goes. It hasn't has any driving issues but came on again. The mechanic turned the light off and said see of it comes on again. So my question is run it till it dies, or look for a new car? it is my daughter's