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Actually, I'd prefer the dipstick as well. On my 2001 330i, the oil sensor went about 4 years ago. The Oil light would come on just after the car started and go off 30 seconds later. Given the cost to repair, I asked my mechanic if it was worth it, and he said, "As long as you check the dipstick on a regular basis, not to worry." And in reality, over 14 years, I only had to put in 1 quart of oil between oil changes.
Sometime the old fashioned way is better than all the new fangled electronic conveniences. I don't mind the new ways, just don't take away the simple mechanics.
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