If anyone from the group help shed a light on this issue; I decided to pick-up my newly acquired 97 740I (164,000). My journey began yesterday from San Diego to Bremerton Washington, the cars performance was phenominal with no issues whatsoever until the Check Engine lit up but did not pay attention to it at that time (It showed up halfway of the long drive).

When i got to Bremerton i had it check and this is what came up:
P0-740 Torque Converter
P0-340 Camshaft Position Sensor

I can aslo hear slight tapping sound emanating from the lower portion of the car, the rattling sound is more eveident when i revved up the engine.

During my trip, the car shifts perfectly, no hesitation its almost perfect with the exception of the slight noise that i am hearing now...Any assistance will be greatly appreciated. I hope this does not turn into a nightmare.

Well you have to take responsibility for what you bought. not trying to bust your bubble brotha. having a inspection will always help.

okay take it to a independent dealer.[ someone who has great in dept knowleged about bmw. and get it completely checked out. are theior any service records. if so great. if not follow my first piece of advice. then start your own service records accordingly.

Yes, I do realized that. I will take to an indy tomorrow. The previous owner has took care of some items, hoses, waterpump, flushing the tranny and so on. I just hope its not the tranny (Keeping my fingers crossed) I drove it without any slippage, stalls, hesitations, you can feel the power, engine sounds good with the exception of the noise that I have mentioned before. Hoping that someone who had come across with this same problem can give some valuable insights. Many Thanks.

I'll be in Bremerton from Thursday evening till Sunday morning, so if you'd be interested in maybe bringing it by, maybe I can help ya out a bit. First thing is to get the codes reset at Autozone or whatever and see if they return, and we can go from there. The camshaft position sensor is pretty straight forward replacement, but the torque converter is a whole nother story.

That would be great, i will stop by. (Let me know how to get to your place). The car is at an Indy right now. After hearing the ticking noise his initial assesment was that it was coming from the drive train. I mentioned to him the two codes that showed up but he kinda dispelled those at that time. When I came back yesterday to follow-up, he is now telling me about the error codes that I told him previously. That he is going to be more indepth and look at the transmission.

Will I get a "trans fail" warning along with the TCC error code if the tranny is really bad.

Im trying not to think that it is the tranny to state the obvious, i'm hoping that it is something else like the flex disk, guibo or just tightening something up to rid off the noise. Thanks and Happy Thanksgiving to everyone.

Ernesto
808-348-7415

The codes were re-set and re-appeared.

With m5james you are in good hands brotha.... good luck and let us know how it goes.

M5James, Let me know if you're already in town.

CPS DIY fix: http://www.bimmerboard.com/forums/posts/63877

Mornin guys. Hey Bobotski50, i'm in Bremerton and was gonna goto the Apple Cup to tailgate today, but I got a cold Wednesday and have been a complete sissy. After Thanksgiving dinner I tried to take a nap to find out people were already lining up outside Circuit City at 5pm!! Needless to say I got no sleep, froze my ass off, and my cold got worse from sitting outside for 11hrs to get all the good deals. I got my new laptop, which has been good so far. Anyways, my Treo is dead and I only have a car charger, so if you online today let me know and we'll see if I can get my ass outta bed and come take a peak for ya, deal!

With m5james you are in good hands brotha.... good luck and let us know how it goes.

Stop, youre making me blush ;) Thanks :cool

Let me know how to get to your place.

I'm here now, just sick as a dog. I'm about 5 minutes away from Circuit City, do you know where it is? Find me on IM if you have it, my Treo is still dead since I havent been outside yet.

Circuit City in Silverdale?

M5James. Muchas Gracias bro. Appreciate the assist. Happy Holidays.

No problem Ernesto, I really wish I could have helped more. If I wasnt as sick as I am now, along w/ my terrible outta nowhere back pain, i'd have pulled it into the garage and started to help ya drain/fill the fluid and/or pull the tranny out. Let us know what the torque converter homeworks gets ya, i'd like to know just to know. Eith er way, car drives strong for a 97 w/ 165k....good find.

After performing a hard re-set on the tranny, the check engine light is gone. Although im thinking its just a matter of time it will show up again...but its been 3 days and counting. But the noise is still there and have talked to an Indy (recommended by KROMDOM) who seems to be very knowledgeable on the e38's.

Possible scenarios:
1. Tranny replacement-$800 plus labor $750
2. TQ-$250 plus $750 labor
3. Tranny fluid change-Price depends on which oil will i use.
4. Turn my radio up/Earplugs (Cheapest Option)

Anymore news?

I decided to replace the Torque converter a couple of weeks ago. I purchased a reman for $260.00. Took the tranny down and replace the front seal. Looking at both TC can't really tell what was wrong with the other one. I also change the filter and gasket (from dealer) and fluid using VW. Re-installed the tranny and added the fluid using a small hand pump. The tranny took in approximately 5 qts then started it, turn headlights and ac on and took another 3.5 qts. Tried to shift it on all gears to get all the fluid distributed. It wont shift at all, called Kirt and asked for advice he said just keep on feeding the tranny more fluid and once it reaches the desired level it will shift. So we kept on pumping more fluid but the fluid just keeps on coming out of the fill drain as if the tranny is full. Knowing that it hold 13 qts, i still have 4.5 qts that needs to go somewhere, something is really wrong here. I am assuming that the remaining fluid is supposed to go to the TC. I suspected that the TC was has not taken any fluid and the only way to find out is to take it down again and so i I did. Sure enough the TC was bone dry, i inspected the tranny and found some metal shavings inside the tranny shaft, also half of the gasket ring (piece where the TC engages) was gone and yes my Tranny is Toast:(

I located a used tranny from Aurora autowrecking for $800.00, it came from a 97 540i. Bought another gasket and front seal for the new tranny and save all the fluid from the other one. I decided to fill up the tranny before re-install, i saved a couple of qts and added it after install. Tested it and everything is good, noise is gone and car shifts very smoothly.

Well since you've gotten it fixed, congrats. Question though....did you fill the TC also before you installed it? I think you're supposed to fill them, kind of like screw off oil filters so they don't get a dry start. Also, after you replaced the TC did that ticking noise go away, or did it come down to be the tranny making that noise. Lastly, any chance you can send your old TC and tranny to Kurt any maybe get some $ outta the deal since he can rebuild and resell the units? If so, that'd help recoup some costs and supply more parts to others down the road who will have to replace the same things.

Congrats though...nice early x-mas present for ya.

I did put some fluid onto the TC, but can only take 1/2 quart. It will take its fluid once you start the engine. The ticking sound went away and it was indeed the tranny. The part (Gasket Ring) that engages the TC and tranny was in bad shape, half of the grove was already gone. Im sure that is where the ticking noise is coming from.

So right now i have two TC's sitting right here, I can ask Kirt if he can take both of them. Or maybe sell them to anyone from the group who need it at a very reasonable price.

I also cleared the error code (P0740) scanned it and no more faults.

This site has provided me with all the information I needed to get my car running. Replacing a transmission was a monumental task for me. I started with changing oil, replacing a heater valve and now a Tranny replacement:) That is huge. Thanks to all, have a Merry Christmas and a prosperous New Year.

Ernesto

I'm glad it all worked out Ernesto, take care.