BMW Repair: 2000 528i, auto trans., bmw technician, bmw dealer

Question
I just bought a this 528i and the speedometer isn't working, the ABS light is on, the traction light is on, and the service engine light is on. A friend borrowed a scanner and it registered a PO 500 VSS code.  So he said the speed sensor in the transmission needs replacing. He says this is at least a 6 hour job requiring special tools, etc.  He's not a BMW technician so I'd like a second opinion.  Thanks so much!

Answer
Not familiar with that part, or that code.

I recommend you stop by your BMW dealer, tell him the code, and ask about the sensor and cost to repair.  I've found most dealers will work with you, if you are being fair.  Don't ask them to diagnose it for free, but if you tell them the symptoms, they'll usually give you some ideas.