Bang/Clunk/Kick - after giving gas from a rolling stop - Feels like just got hit!

[tdog05]

What the hell is going on?

I just purchased my 2005 X5 4.4i (88K miles) and all of a sudden every time I don't stop completely from a stop sign (rolling stop or slight incline) I hear this loud bang/kick/clunk after I press the gas. Seems like it's trying to find a gear or the transfer case has something wrong or rear differential?

Closest reference to what I am experiencing:
Transmission Bump - Bimmerfest - BMW Forums

Or another way to describe it is that it feels like I just got rear ended by another car -- after giving it gas from a rolling stop or on an slight incline.

Just got a " transmission fail safe error" last night, so I pulled over, stopped the engine, and started up and message went away. WTF?

Seems like the transmission is suddenly not engaging? Does anyone know what I should do besides trading it in before it gets worse and have to pay $$$ to fix?

I searched these forums and what I have read I should do these things in the following order...


1. Try the reset procedure - (turn key to position 2, press accelerator & hold for 25 seconds, turn off car, restart). - Does this work?

2. Get my transmission flushed and replaced with now transmission fluid and have transmission filter replaced. -- COST? -- I will start with this, because I found several people have this issue go away just by doing this.

3. Get the transmission software updated. - COST?

4. Replace the transmission valve body -- COST? - 04 4.4i X5 TRANSMISSION IS KICKING HARD - Bimmerfest - BMW Forums

5. Replace the torque converter - COST?

6. Replace the rear chassis bushes - COST?

7. Replace $200 valve body wiring harness (part #24.34-1 423 719) - COST?

8. SELL CAR!

Anyone have any idea on what I should do first and what each one of these costs?

I am completely new to BMW and so far this is not good.