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Hey Matt one thing is having a car that you will enjoy working on like your race car, the problem with the x5 is not the tear and wear maintenance the problem is the unexpected will fail and when it does is one stupid sh**t behind the other . With the 50i I wouldn't be surprised the oil smell is coming from the valve stem seal a 8k job from the dealer.
2018 was a bad year for my single owner x5 35i that I bought back in 2016 with 68k. The oil filter and oil cooler housing started leaking , the parking brake actuator went bad, oil pan started leaking , in the middle of the summer with high 90's temp my a/c was blasting cold, parked the car to pick up my daughter from school get back to find out the a/c went bad, same week on top of that decided to open the sunroof get to heat out and just my luck it broke. I used to love working on my e46 m3 when I had it , it was fun in 5 years of ownership 2 or 3 thing when bad and it is sad to say but bmw reliability went south. The car is really fun to drive but it is a headache, my wife new and previous toyota highlander with 245k miles was running with 0 issues and thinking of that makes me think if I should run away from bmw. If you can return it walk away from it and don't look back there is not such thing as a great deal. Good luck
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