My independent mechanic has replaced two boots for me. I don't know if a special tool is required or not, but my indie has definitely helped me out at a fraction of the cost of the dealership.

Plus he did this over a year ago and so far no locked up ABS....

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Previous: 2002 X5 3.0 / 121,000 miles
Current: 2007 X5 3.0si / 93,000 miles