+1 for Griot's Garage. I've been using their new Leather 3-in-1. It's a cleaner, conditioner, and protectant in one bottle. It's good stuff and easy to use.

Leather 3-in-1, 16 Ounces - Griot's Garage

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2006 X5 4.4i
Sport package, summer package, cold weather package, DSP + Nav
Bought 2/14 with 73k miles