BMW 740i power steering fluid

I have a 98 BMW 740i and no self leveling.
The power steering fluid gets low lately. My local mechanic showed me the rubber hose below the power steering reservoir looked wet. He said all BMW
power steering leak - common problem for all models. He need to replace with a hose kit sometime in the future and its extensive labor work, cost over $600.
First, any 98 740i owner out there can tell me exactly what kind of power steering fluid should I use? Please tell me where is the offical URL link?
Is that anyway I can do this hose or seal replacement for less?
Thank you.
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2006Young wrote:

On alot of BMW, not just the 7s, your problem may just be a leaky hose clamp. BMW uses those cheap-ass crimp clamps that eventually leak. Replace with a regular worm-drive clamp.
As for fluid, the cap on your p/s reservior should specific the exact fluid you need. If you don't have self leveling, it may just be regular ATF fluid. Check it out and make sure you use the correct fluid specified!
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OK, it has "ATF OIL ONLY" marked on the top of the cap. So what kind of ATF oil specifically suitable?
The black rubber hose is around 3/4" in diameter. I cannot find anyway to open the steel clamp? This black rubber hose connects from the bottom of the Power Steering Reservoir to some kind of radiator block. There are two clamps, one at the bottom of the reservoir, another clamp at the middle of the hose, connecting nothing (why?).
Where are the seal, or kit my mechanic wants to charge me for $600?
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2006Young wrote:

Mine takes Dexron II or III ATF, I believe.
Look on www.realoem.com for parts and prices.
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They are crimped and have to be cut off.
--
*Yes, I am an agent of Satan, but my duties are largely ceremonial

Dave Plowman snipped-for-privacy@davenoise.co.uk London SW
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ATF DEXTRON III
Regards

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I've been down this road with the power steering hoses on my 318is. After spending $100 buying a new set of hoses I found during the installation that there was really nothing wrong with the old ones - just the crimpon hose clamps that had lost their preload as the rubber relaxed with age. You can buy a tool to recrimp these hose clamps at most auto supply outlets. Or you can replace the hose clamps with the screw type. The old ones can be removed by prying them open with a small screwdriver inserted into the crimp section to open them up and then cutting them off with a macho set of diagonal cutters.

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Yes, I wish to remove the old crimp type clamps. I tried to pry open the crimp. But unable to allow any space to insert cutter. And try to avoid puncture the hose. Any suggestions? Much appreciate.
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You can dismount the reservoir so that you can move it to a more accessable position within the constraints of the attached hoses. In my 318i I also removed the air cleaner and airflow meter to improve the access but I'm not familiar with the component locations in the 740i. You should suck as much fluid as possible out of the reservoir using a turkey baster to reduce the possibility of a major spill. You don't actually have to disconnect the hoses to replace the clamps but it may happen by accident while removing the old clamps.

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2006Young wrote:

OK, if you look at the crimp clamps, you should be able to see that it overlaps itself as it goes around the hose. You can get a very tiny small screwdriver and pry the overlapped portion of the clamp away from the band. Once you figure it out, you can do it by hand without looking.
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