Take it to a Pep boys if you don"t have a code reader.
They will check out the computer code warning you are getting right noe.
The cost will be about $40 or 50 bucks.
The dealer will charge you three times that much,plus Pep boys will give you a up front free estimate if you need any repairs.
Bet it's the gas cap though.
Try tightening your gas cap and driving the car around far a hundred miles or so.
remember never put gas or loosen the gas cap when the engine is on.
The computer will pick up the venting like it would a leak,thus sending a warning code to the computer.
SOURCE: yellow warning lights on, refered to exhaust
ok if these are error codes for O2 sensors then don't worry about the post-cat sensor. the pre-cat may affect gas mileage slightly, but won't stop your car. however, my experience says the DME or ECU what ever you want to call it can giive false readings if it gets wet..
are there any performance issue?
you might check the ecu/dme read below
the ecu compartment is under the windshield on the passenger side on E36
you gain acess to it under the hood....
this compartment gets wet, the ecu lays on a flat surface in that
compartment.
the bottom side of the circuit board gets wet and starts corrosion.
remove the ecu, take the bottom plate off, clean the bottom of the circuit
board with alcohol and a soft tooth brush.
you should be able to see the signs of corrosion or conductive build up.
this gunk bridges solder points doing all sort s of wierd things to your
car, including false sensor readings from asc/abs controllers and other
sensors....
all the way to engine failure and worst case burnt and shorted wiring
harness.
I'm on my 3rd ecu, took me and the repair boys a few years to figure this
one out.
BTW: i would get that ecu mounted above that flat surface, use some sort
of standoff to raise it so that it is not laying in the wet.
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