Orlando-
A few thoughts here on top of the sound advice you have received:
1. Don't be afraid of the v-8s. The 4.4l is a reliable motor, and the issues that it has it largely shares with the I-6s. For whatever reason, there's a lot of urban legend out there about these motors.
2. While the I-6 is a tad underpowered for the X5, if you are using the car for highway driving it is less of an issue. The big advantage of the I-6 is that you can find a manual transmission. They do come up for sale with some regularity, you just have to be willing to travel.
3. If you need AWD, well then you need it but a set of good winter tires might be cheaper. X series BMWs love to eat front half shafts, and this is an expensive job. Someone mentioned this, but I would price this job and then think about whether it is still worth it to you.
4. Finally, no one mentioned the water cooled alternators on the v-8s. These are fairly reliable, but very expensive if they head south. Needless to say, have any prospect checked out thoroughly.
Personally, if I were in your shoes, and were looking for a long distance tourer, I would find an e61 530XiT manual wagon. The e60, weird styling aside, is a pretty good car. And the N52 is a reliable motor, as compared to the N54. The half shaft issue is still there as always, but the rest of the car is better. We've looked at X5s several times, and each time I've been turned off by the fact that they don't seem to hold up that well. Maybe it's just me.
Hth, and good luck.
Raymond Lombardo
Thanks Raymond! The insight you and other members have provided has been very helpful.
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