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Is it on permanently or does it come on after driving for a while approx. 30mph and above?
If it is on all the time it could be any one of the sensors on the system, cheap OBD readers usually only do the engine faults not other systems, I use Foxwell scanners that are pretty good for the money. You can then use diagnostic mode to check sensor function.
If it comes on 30mph and above this can be pick up ring corrosion, it causes the ring to distort and wear away the end of the sensor increasing the air gap so the signal is weaker, eventually at higher speeds it cannot determine the signal and throws the light on. [edit to add] If a wheel speed sensor shows up as faulty check all the pick up rings for corrosion and signs of contact with the sensors, fitting a new sensor will decrease the airgap but only fix it for a few miles before wearing away again so don't get caught out.
This one does all models
https://www.foxwelltool.co.uk/wholesale/automaster-pro-nt624-full-system-scanner.html?gclid=Cj0KCQjwyN-DBhCDARIsAFOELTndBksEbt_8t9UbVp1MnR51fiL2gfok9PuvA10eV14LPuCFWqarl9UaAo3IEALw_wcBOr get a vehicle specific one.
https://www.foxwelltool.co.uk/wholesale/nt510-multi-system-scanner-with-one-fre-car-brand-software-and-obd.html?gclid=Cj0KCQjwyN-DBhCDARIsAFOELTm1Sey7ex1x-qDlviX0NO45wdmqZspA6uH3q5IjiwLqg2psnUOrmbgaAqnWEALw_wcB -
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Dave at Astbury Motor Works knows his stuff.
https://vymaps.com/GB/Astbury-Motor-Works-210622069616988/ -
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BM Sport in Bexleyheath, Jags & Nigel
https://www.bmsport.com/or ETA Motorsport West Kingsdown, Matt
http://www.etamotorsport.co.uk/ -
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A few have enquired about converting to LPG which would meet emissions but have been told it cannot be reclassed which is piss poor in my opinion.
I can get to work without going inside the South Circular but you can bet that will be a nightmare with everyone else doing it also, I can see it causing absolute chaos on the roads.
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This thread makes me want to get on and rebuild mine, I picked up a hand painted shabby Gillot a few years ago and had it resprayed in period colours and got the transfers to match, I have tracked down period late fifties parts to build it just not got round to it yet.
How it was at first.



And as it is now ready to build.


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@dan @Soul I have not used these but they have a good reputation around here.
Elite Crash repairs in Keston https://www.facebook.com/elitecrashrepairsltd/
Revamp Autoworks in Orpington https://revamp-autoworks.co.uk/
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Just top it up
and yes
1/ undo bleed screw top up coolant 50/50 antifreeze until coolant comes out of bleed screw.
2/ put on ignition and set heater to hot, top up again until coolant comes out of bleed screw.
3/ start engine, top up until coolant comes out of bleed screw, tighten bleed screw, top up coolant to correct level at cap
4/ road test vehicle, to warm {fan cut in] then allow to cool and recheck level. -
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To bleed the cooling system
1/ undo bleed screw top up coolant 50/50 antifreeze until coolant comes out of bleed screw.
2/ put on ignition and set heater to hot, top up again until coolant comes out of bleed screw.
3/ start engine, top up until coolant comes out of bleed screw, tighten bleed screw, top up coolant to correct level.
4/ road test vehicle, to warm {fan cut in] then allow to cool and recheck level.
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@paulbiche pretty much, I am not a fan of 4 cylinder engines after the M44 all N series engines seem to suffer chain issues of some sort, Valvetronic engines are also prone to finger wear in the valve train that can be expensive.
The M54 6 cyl is a reliable lump, they can suffer with water pump and vanos trouble but other than that pretty good.Hackengineering do a good modified vanos service with improved machined components if ever you do get trouble.
https://www.hackengineering.co.uk/ -
Yeah visually check them, start with the rears they usually go first. From BMW it is new driveshafts only but I think Euro Car Parts sell the rings separately, if you jack it up and look up with a torch slowly turn the wheel and you should see shiny bits where it has touched and worn the corrosion
And thanks you are welcome :).