Why are the abs and asc warning lights on on your BMW 850?

The abs and asc warning lights come on when there is a problem with the ABS computer or the ABS Module you should have it taken to the dealer immediatly if your car is an automatic. The computer also will prevent your speedometer from working and thus cause problems with your transmission computer in 3rd and 4th gear. If your car is a manual you are okay to drive but your Safety features such as the ABS and traction control (ASC) will not work :(.