The sender is a more frequent cause of oil-pressure reading anomalies for the W124 models...and a far cheaper fix!

Oil pump failures are rare on the W124...

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2009 ML350 (106K) - Family vehicle
2001 CLK430 Cabriolet (80K) - Wife's car
2005 BMW 645CI (138K) - My daily driver
2016 Mustang (32K) - Daughter's car