Sweating over my 530

jar530

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I have a 1995 530i that I bought new. It has about 195K miles, always garaged and driven conservatively, mostly my wifes car. The dealer has done all the oil changes and inspections. Repairs were done by them when I felt like it was justified. The car is in excellent shape inside and out, never really has had a serious problem until..........

The other day my wife left to run an errand and she called me about 15 minutes later and said she had stopped on the side of the road having car trouble. The dashboard indicated "parking brake" (weird because we rarely use the parking brake) and she said it smelled like something burning. I went to check on her, of course she had turned the engine off asap, and I could smell hot rubber when I got there. Raising the hood, the engine wasn't hot/steamy but I could smell burned rubber and looked at the belts. The main drive belt was broken, off the pulleys, and pretty well cooked, and so I pulled it out. I started the car and drove it a less than a quarter mile (engine heat gauge normal) to a friends business to leave it there in a safe location. Two days later, I got a new belt, checked everything I could see that may have seized up (idlers, alt, etc) and nothing appeared frozen and so I installed the belt. While I was at it, I checked the a/c compressor and put a new belt on it at the same time.

I had a picture of the layout and I'm positive I have it correct. I attempted to start the car but it acted like the battery was too low (turned over slowly). I checked the battery, it was only slightly low, recharged it and tried again. Same thing......turning over slowly. I removed the newly installed belt, rechecked the pulleys to be doubly sure nothing had seized, and tried to start it without a load from the belt......same thing....slow turning over.

As I mentioned earlier I initially started the car (twice actually) the day it broke down to drive it to my friends place and it started fine without the belt. It sat at my friends for two days before I could get a new belt, and now it's acting like the battery is weak (pretty new battery), or starter problem (original starter, never a problem), I wondered whether the water pump had seized, but by removing the belt, the water pump can't be interfering whether seized or not. So I have some questions:

1. What's the deal with the "parking brake" warning? We don't use it, and it wasn't used prior to my wife's problem, and she said that the "parking brake" warning and the smell was the only clues she got.

2. I'm not a BMW pro type guy, but I'm thinking/hoping that it's either the battery, or starter. I'm fearful that it's internal engine problems.

3. Is a 12 year old car worth putting a new, rebuilt, or used engine? What would it cost? As you know this is a V-8

4. If it's an expensive engine problem and not economical to repair, what is a good decision to do with the car? What is it worth for salvage, or do I try and sell it online as a decent car that needs an engine?

5. Thanks in advance for your replies and help
 


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