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ASC problem
My ASC just turned off when i started my car up this morning and i cant turn it back on. I've tried turning the car off and on again but it's still off. Does anybody know why it does this and how can I fix this? thanks for any help!
-Alex-
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ASC Control unit? Is the speedometer working or not? Antilock brakes working (test it on gravel)
This is becoming a common failure on 98-2001 5 series. I just went through it.  Fixed now 
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What was the fix? How many hours they charged you, and what parts?
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The ASC control unit manages the ASC, traction control, and the readout for the speedometer comes out of it. In addition, if the speedometer isn't working, the cruise won't either. It wold be a simple repair (either 6 or 8 screews off and back on) but it must be coded by the dealer for the car. One dealer quoted me parts and labor ~$1300, I went to another dealer and had it done for ~$1000. The part itself is appx $750.00. Usually it will operate fine when you start the car from cold. Once it warms up, it will fail and will not return to working status until it has sat a long time and cooled off.
One again, the original poster will need to identify if he has ALL those symptoms to see if it is the ASC control unit. It could also be a wheel sensor, Appx $85 and can DIY, but I doubt it.
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that light with the triangle in the middle doesnt go away when i press the ASC button. My speedo is fine it's just that the light is on and when I took a hard turn I started to slide a little bit or when I drop the clutch to see if it'll squeal my tires and it did. Usually it'll just jump and not squeal the tires. This has happened before and it was fine the next day, but now it's still on.
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It might be one of the ABS sensors that is dirty or broken. But if it were this, then the abs and asc lights would both be on. The wheel sensor can also affect the speedometer. I had this in the M5 and the 540i. 1st time it went away buy washing the wheels, 2nd time had to change the sensors.
KIP
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ASC problem