Valve cover gasket leaks are common after 60,000 miles. Symptoms will include oil drips under the vehicle and burning oil smell from the engine compartment.
Car problem reports
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Most reported 2006 BMW 530i problems
The thermostat may fail resulting in engine overheating and/or illumination of the Check Engine Light. Replacement of the thermostat along with a complete inspection of the cooling system will be necessary to correct this concern.
Overheating can cause severe engine damage. If the engine begins to overheat it is recommended to stop at the first available location and have your vehicle towed to a repair shop.
A creak or squeak can be heard from the top of the front or rear doors. This noise is most noticeable when the windows are fully up. The noise is caused by the decay of the flocking material on the door seals. New door seals, Teflon tape, special lube, or a combination of all of these may be needed to eliminate the noise.
If the brakes are squealing, there's a good chance it is the brake pad wear sensor. A new design was implemented in January 2006 and can be identified by its green color.