I second Nahoa.
Stop driving it immediately. If the sound is really "HORRIBLE" I'd even be concerned about driving it back to the dealer. I'd phone them the minute they open on Monday and ask them to send someone to your home to evaluate the situation. Did you use the iDrive "Check Vehicle status" setting? If it sounds like metal to metal noises, you should probably have the car picked up on a flat bed transporter if you can. Call the place you bought it immediately.
Sorry - Your X3 experience is certainly not typical.
PLEASE do keep us informed about what they find.
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