Went to Autozone to find out why my check engine light and flashing orange arrow was on my 97 850R and found the following codes:

P0141 O2 Sensor Heater Circuit Malfunction (Bank 1 Sensor 2)
P0500 something about a speed sensor malfunction (aka cruise control sensor)

Any ideas? I ordered both parts hoping that I can fix it myself, but any help would be EXTREMELY appreciated!

 

Did they clear the codes?
Did they come right back?

 

I did not try clearing the codes, since the guy who sold it to me said that this was a problem. I totally regret moving forward with the purchase, but no options now. I think he cleared it first by just disconnecting the battery, but then it came back. Plus the orange arrow and econ light keep flashing. I need to get the check engine light off in order to pass the smog test here in Cali [:@]

 

You need to try to get the engine and trans codes cleared and see if they come right back.
Most of the time just disconnecting the battery won't work.

Did they only pull codes from the engine?
Or did they pull tranny codes?

You might just have a bad PNP switch. For the arrow flashing.
Replace the o2 sensor the fault is in the preheating circuit.