I believe it's right next to the dipstick on the block, attached with a 5mm hex bolt. Linked DIY should help. BMWTips M62 Camshaft Position Sensor CPS replacement
SOURCE: 1998 bmw 740il will not start
1998 BMW 7SERIES not starting, replaced old battery with new, no troubles for five months.Now, car does not start battery reading good. How many miles do the starters last?
SOURCE: How do you change blower motor in a 1996 740il bmw
Try this: http://www.bimmerboard.com/forums/posts/45351
Make sure this applies to your model.
SOURCE: I need to change the oil on my 94 BMW 740IL.
Depends how competent you are here and what sort of tools you have.You will also need to replace oil filter if you wish to replace oil within the engine.The oil has to be drained from underneath the engine and allow it to sit for few hours while draining as this will ensure all the deposits at the bottom comes off.
SOURCE: 2001 BMW 740iL is sputtering when I accelarate and shaky when idl
A tune-up and throttle body clean-up is a good idea, but mind you on those cars, the valve covers usually leak into the spark plugs and coils, causing the car to misfire. If you are replacing the plugs and find them soaked in oil; replace your valve cover gaskets or you will be back to the same problem soon after the oil soaks the new plugs back up again.
SOURCE: 96 bmw 740il misfire
This is a pretty common problem. I would change your valve cover gaskets. They run around ~ 50 bucks. If they are bad it will leak oil into spark plug well and cause a misfire. Very known on the 740.. Also if tune was not anytime not too long ago id change spark plugs while you at it. Then clear the computer and if you still get misfire on 8 try changing the ignition coil which is right about the cylinder with cylinder ignition coil 5. clear the computer. if you get random misfire and misfire cyclinder 5 after then its your ignition coil. parts store runs around 100 bucks
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