The rack sits on the subframe. If you remove those two bolts, you should be able to drop the subframe more without stressing the steering linkage or the power steering hoses. I recall it as just those two bolts. I think they have the unusual etorx (external torx) heads. An excuse to buy some new sockets! ha

There is no reason to remove the whole rack from the car for this.

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David.X5
2001 X5 4.4i Sport
SOLD! at 160k miles