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.
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Most reported 2005 BMW Z4 problems
An engine coolant leak may develop from the expansion tank resulting in engine overheating. When a cooling system component fails the entire cooling system should be inspected. It is not uncommon to find additional component have failed or are leaking.
The low coolant light may illuminate and/or the engine may overheat as a result of a coolant leak from the water pump. The leaking pump will require replacement and the entire cooling system should be inspected for leaks as it is not uncommon to find multiple leaks on higher mileage vehicles.
It is not uncommon for the radiator to develop a coolant leak. A leaking radiator will require replacement. When a leaking radiator is replaced the entire cooling system should be inspected and if any additional leaks are found they should be repaired also.
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.