I have an '01 530 sport with 104,000 miles. Service light came on 4-5 months ago and I took it to the shop I've used for the last 5 years and they said the code was about the torque converter, but they really didn't think it was so they cleared it and told me to drive it and lets see what happened. Drove it a little bit and the light came back on. I've been out of town for work a lot over the last few months so the car has been parked primarily, so I just got around to dropping it off so they could really look into the problem.
After looking into it, they say it is the torque converter, and that is built in to the transmission so essentially, I'm looking at a whole new transmission. In terms of driving, I don't even notice there is an issue but they say that the torque converter is not engaging - so ultimately it puts more strain on the engine and such.
Wondering if anyone has had the same thing and what options there may be besides a $3,500 transmission. Love the car and want to keep it for a while, but that's a hefty repair bill so just trying to see if you guys have any opinions or suggestions (or, know of a place in the Atlanta, GA area that may be better to check into for cost). Thanks in advance for any advice...