My 2003 530i with 71,000 miles displayed the "service engine soon" warning the day before Christmas and my dealer read fault code 048 indicating "converter lock-up excessive slip." My service advisor recommends replacing the entire transmission for $5,000 rather than just the torque converter for $3,000. He also said that BMW may consider covering at least part of the repair cost. Replacing the entire transmission sounds like the best option -- but is it really necessary? Should I consider this an urgent repair (i.e. next few days) or can I safely drive the car at least a week or so into the new year? Does anyone have experience with BMW covering part of the cost? If so, what is reasonable -- especially when many other makes provide 100,000 mile power train warranties and BMW does not provide for transmission fluid replacement? This is my third five-series, all purchased new, and my wife has a 325ci, so we are certainly loyal to BMW and want to be optimistic that they will stand behind the car, even out of warranty. Thanks in advance for any suggestions or advice.