New to X5 and have a major cold start issue Help please.

[Richard Oben]

Started new in correct forum please delete.

We just bought (3 weeks) an 02 X5 my wife a replacement for her 94 325is (I get the hand me down as a toy). It was really cold yesterday 5 overnight low and 14 for a high. Last night we went to go to a game watching party and the thing starting smoking pretty bad. We smelled it at the stop light about a half mile from home and ignored it as it has never made any smell of any kind. Since it is my wifes car it was, you guessed it, out of gas. At the gas station I opened the hood as I could still smell the oil burning and there was plenty of smoke coming out. We were only a mile from home so I went home and parked it and took another car to the party. This morning I can seen in the snow the thin trail of oil on the ground.

I have been a car guy most of my life and am pretty handy but have not done much work on the 325IS as I have either not had time or the right tools (ignition broke was one where you have to have the right tool). I have done some suspension work on it and a little AC work, removed the mechanical fan for an electric, oil changes and brakes, alternator, you know normal stuff.

I did a little searching and came up with some info about the condenate seperator hose freezing and the valve cover gasket blowing.

So my question is: is this a common problem that I can fix or should I take it in. After just writing the check (big enough for me (we do not make car payments ever)) for it I would prefer to not have to put a bunch of money into it.

I have not even got it in the garage yet so I am not sure what I have. Since it is still damn cold, this place seemed like a good place to get some info. I will check back in a couple of hours after I get the thing in the garage. Thanks in advance, cheers Richard.