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I've began to think of it as the lifetime of the car while its still under warranty with the first owner, which after 3 or 4 years they most likely should have traded it in and gotten a new one... hence "lifetime".
I did change the lifetime rated fluid in my old 2004 325ci with the GM automatic, despite people saying not to a few years ago because it had 260,000km on it. This was the first time it was ever changed out and the original fluid was still in pretty decent shape surprisingly. It immediately shifted smoother and gave me no other issues in the 16k I put on it before selling it. My 435i is at 136k right now and based on ZF's recommendation I'm planning for a fluid change this spring/summer.
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