Flashing lights and clicking are likely because the battery is low. Find out what is draining the battery and get that solved before you worry about anything else. There are quite a few threads on here about how to go about testing and what some of the common problems can be.

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