2nd BMW = super cheap X5!

[RToth]

Hello all!

Pretty new to BMW, picked up a 2003 540i M Sport a few months ago and now I have the itch! I sold my previous car (2002 Pontiac Bonneville) and had money sitting around so I wanted to find another BMW for cheap that needed work. After a few weeks of searching I came across a 2001 X5 4.4 with transmission troubles, it was only two miles from my house and I drove it home for $1,200! The body is completely rust free, interior is really nice, engine runs smooth, but the guy said it went into failsafe and stuck in 5th gear about three weeks ago.

After some diagnosing at a couple local shops for a new then rebuilt trans he decided to sell it, I am not 100% convinced on it needing a new trans yet though. Getting a P0720 code but it shifted perfectly fine on the drive home, even jumping on the gas a bit it was great. The only exception was at 60 MPH I floored it and when it went to downshift it free revved like it was in neutral, let off the gas and all was well. Got home and the battery lamp was flickering, roughly 12.5 volts at idle and just over 13 giving it some gas.

From reading dozens and dozens of threads on the transmission failsafe message and the P0720 code I will surely be fixing the alternator first and get the battery load tested before anything else.

I paid $1,200 for it with 154,000 miles, body is super clean with no dents at all. Originally bought it to learn more about BMWs as I work on it then sell it but this thing is growing on me really quick! I might just have to stick around for a while haha seems like a great forum with a LOT of good info and writeups, thanks for the help already!!!