I assume you have checked your oil level and it is ok. If the yellow oil light comes on a few seconds after start up and then goes off it means the oil level sensor is faulty. It is located on the bottom of the engine attached with 3, 10mm nuts. Remove the support pan first 8 bolts 16mm and drain the oil.
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You could have a bad oil pump. Even though the engine has oil, if the pump is bad, oil pressure will be low, hence the oil light. The tapping could be hydraulic lifters not working correctly because of low oil pressure, or the failed oil pump. See a mechanic ASAP. At a bare minimum, he can run a computer code scan to see if there is something detected by the onboard computer.
Lets start with what is the year make and model ?? If the ABS light is on, you would need to have the computer scanned to get the trouble codes so you would know what component to test. The brake warning light could be telling you the hydraulic brakes are low on fluid, or the parking brake is not completely off. You would need to reset the change oil reminder, if it is a red oil light, it could be telling you the oil pressure is low.
The RX 8 engine burns oil pretty bad. Majority of time the oil light coming on is due to the oil level being just a little low. When the engine is cold check the oil level if its full then is another issue but if a little low just add a little oil at a time till full then light should stay off.
WHAT LIGHT COME ON.IF LOW OIL LIGHT COMES ON CHECK OIL DIP STICK.OIL LEVEL SHOULD BE ON THE FULL MARK.IF OIL LIGHT COME ON CHECK OIL DRAIN PLUG AND OIL FILTER EITHER ONE COULD BE LOOSE LEAKING OIL.IF OIL LIGHT NOT COMING ON AND YOU SEE SERVICE ENGINE LIGHT THAT CAR TO ANY AUTO PARTS STORES.THEY WILL CODE SCAN CAR FREE AND TELL YOU WHAT TROUBLE CODE YOU ARE GETTING.
The oil light will come on orange if your oil level is low. The oil light will come on red if your oil pressure is low. The oil light will come on, then turn off if your oil level sensor needs replacing.
Alex
You should not drive 10 feet with the oil light on. have you checked the oil level. did someone just change the oil and filter??? find out what the oil pressure is, using a mechanical gauge. it may be too late.
The above "Guru has no idea what he is talking about. The yellow oil light means you need a new oil level sensor, if your oil is indeed full. Its located in the oil pan and costs around $100.
Oh, and oil changed are around 15,000 miles, not 6000 miles. When the BMW is due for an oil change or inspection, the display says so. The yellow light is low oil. Please avoid giving advice when you don't know what you're talking about.
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