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clean the engine and check where it is coming from. Is it at the front of the rear> do you smell burning oil when you switch off the engine? Clean an area under the engine compartment and see where the oil is dripping from and get back to us. Typical places for leaks are the valve cover gasket, oil filter housing bracket.
That sounds like you bought big problems. Oil ights indicate low oil pressure= BIG BUCKS. I would have a qualified repair shop check it out, A shop that specializes in BMW. If you are lucky, maybe the oil sender is just bad. They can also check out the Ck eng light. But the oil light is priority one.
Pull your dipstick and check the oil level on a flat area if it is down a hair this could be your problem if so add a little. then start the engine the light should stay off.
The BMW 525I doesn't have a dip stick. The oil level is checked using the "i" menu. Select service status and from there you should choose "check engine oil level".
Look for Castrol TWS 10W60 Motor Oil. This car should not burn so much oil, you need to use a different kind. It is recommended by BMW as well. I also heard the VANOS isnt an issue anymore, can be fixed with a different MAFF. Good luck!
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