Plumber's strapping works nicely to hold the spring compressed but I have to admit I'm a sucker for tools and was looking at that same tool before I did mine but could not find it with all the extra extension pieces that are shown in the video.

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1988 325is (purchased new) sold
2004 X5 3.0 2005 X3 2.5
2008 X5 3.0 (new to me)