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Ouch, that really sucks... I don't really have much more to add than that!!
I don't think I've seen anything like this on Bimmerpost or other forums, so hopefully (for the rest of us), this is a one off. Did the dealer give you a loaner while you're waiting? I'd be concerned that if it is a hardware issue it will cause more than normal wear and tear if you keep driving, or worse just completely give out causing an accident.
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