Try the 30 minute cv boot replacement. Maybe a mobile mechanic can come do it at your house for cheap. If you do not show signs of a damaged cv joint (clicking while turning etc) just replace the boot. Use the money you save to pay for the other stuff.

If you are going to replace the timing cover gasket do the alternator gasket. It is right there more or less after you get that far. That is a weak point in that version of the n62.

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2004 E60 545i Sport 6MT. Black/Black Build Date 6-2004 102k miles