Hello and welcome to JustAnswer BMW,My name is Steve and it will be my pleasure to assist you today.
did both lights come on at the same time?
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Thanks for your patience.
When these warning lights come on together, it indicates a fault within the ABS / traction control system on the car.
There are two very common things that cause these lights to come on together, a faulty wheel speed sensor or a failure within the ABS / traction control module itself.
You will need to have the fault memory read from the car to determine what your issue is. They will generally do this for free at autozone. If there is a wheel speed sensor fault stored, then you will need to replace that sensor (about $120). If there is no fault stored, or the scan tool cannot communicate with the ABS system, then the module is the problem and it will need to be sent out to be fixed. Two good places for this are Module Masters and BBA Reman. You can find both on google. They charge about $300. Replacing the module with a new one will cost close to $1000, so sending yours our to be rebuilt is the best option should the module turn out to be the failure.
Again, you will need to have the fault memory read from the vehicle to confirm 100%, but chances are the problem is either a wheel speed sensor or the abs/traction control module
I hope that is helpful, please let me know if you have further questions, or if I can clarify anything for you.
It has been my pleasure to help today and I wish you the best of luck with the vehicle.
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