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Congrats on the X5M. I am in the same boat as you, just purchased a 2010 X5m about a month ago. Absolutely love the car, but everything they say about owning an out of warranty BMW is coming true. Just got the CEL warning me of reduced power output and took it into the dealership. Turns out the vent hoses as part of the ventilation system needs to be replaced at about 2k. In addition may have to replace the injectors as they are throwing error codes but not definite as the hoses may have caused the errors.
All of this was expected as I did a lot of research before I decided to purchase an out of warranty BMW. However, my only complaint is with BMWNA. I'm sure you've heard about the 'Customer Care Package (aka recall)' out there for the N63 engine which is the same base for the S63 engine in the M version. I don't understand how BMWNA is not extending that campaign to the M versions. Maybe they will in the future, but it certainly does not help now.
As stated, repairs were expected but disappointed in BMWNA. Otherwise, I am love the car.
Good luck with yours!
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