You can have the whole thing repainted for about $300-450. I had a nasty scratch and had the whole bumper done in a day. You can also try a spot repair. But blending in the new paint with old is the real trick.

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'06 X5 4.8is, TiAg/black, cold weather pkg., comfort seats
'07 750Li, TiAg/black, sport pkg.
'05 Ford F350 silver met./slate gray, Lariat, 6.0 PSD, CC, DRW, FX4