New E38 owner

Hello everyone, I am a new owner of a 2000 740IL with 84000 miles. I replaced our 2002 Lexus LS430, a very nice car, by the way, with the 740. My wife took a bit of convincing as she drives a Lexus, but hopefully she will come around! This is my second BMW, the first a 95 325 cabrio. I always regretted selling it, but at the time it was right. I chose the 740 because like a Mercedes, regardless of the age, it will always be a BMW or Mercedes. I do have a couple of concerns. First, my "service engine" light just came on. I have just had an o2 sensor replaced as well as a gas cap from BMW. I do park in a garage with steep inclines and I understand that could cause the light illumination, any ideas? Second, I cannot believe that there is no center storage in the console other than two small trays on top, am I missing something? If that is true, what a design error! I'll have other questions I am sure. Glad to be a member