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Well, I've been driving E30's, E36 and E39's for past 15 years and of late F25 - one of my 3 E39's looked a bit better than your car when I hit 150K mile mark,, the others were worse than your car, but again...they had well over 100K miles on the clock.
I've yet to own a BMW w/warranty of any sort, CPO or otherwise; if I can't do the work on my car myself I use an independent mechanic so clearly I don't know how BMW deals with such issues. I could see how they would call your car's oil a 'seepage' issue as opposed to a real 'leak', wherever the oil is coming from it's certainly not bleeding out profusely. Then again I'm sure there are more than a few dealers who are always looking to avoid an repair that would cost them.
Perhaps others on the board who have direct Dealer/CPO experience will chime in on this.
Good luck/Bill
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