You will loose lots of functionality and integration if you go aftermarket.
Radio performance will drop as no aftermarket radio can control the 1xAM and 3xFM antennas that your BMW has.
Get a 2nd hand radio from eBay - they are much cheaper than new.
You may also be able to upgrade to a CD player or the Professional RDS radio (the best)= if you find the right model on eBay.
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