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Yes you should change it, as it is black in color. That fluid is completely worn out, and you need a power steering flush. Part of this service requires replacement of the reservoir, as it houses the filter for the system, and these become restricted. This alone can cause power steering issues. You will need a few simple tools for the replacement of the reservoir, and a extraction pump will make the job much easier, and is almost a necessity for performing the flush properly. The video below will walk you through the flush procedure and reservoir replacement step-by-step. I have also linked the the power steering reservoir you will need, and a fluid extraction pump. BMW Power Steering Flush How To! ATF Style. E36 E38 E39 E46 E53 E60 E65 VEVOR 6.5L Pneumatic/Manual Oil Extractor Pump, Fluid Extractor Pump This is for a 318i, but should be the same as your 316i. Power Steering Reservoir VAICO V201009
Did you know that you can change your own oil. Oil filter. Engine Air filter and your cabin air filter all in about 30 minutes, without jacking the car up or crawling underneath it? You just need to invest in an oil vacuum: https://a.co/d/02CnUOOg Stock up on a few oil filters: https://www.subaruonlineparts.com Order yourself some of the Highest quality motor oil from Amsoil.com As far as your maintenence schedule goes. It's only been 4 months 1800 miles since your last oil change. Has the car just been sitting? Or do you only drive 1 or 2 miles per day? If the car is just sitting, but then when you actually drive it, you drive long enough to get the car hot every time. Its ok to wait till 3k-6k miles or one year whichever comes first for your maintenance intervals. But if your driving habit is 1 mile to the store and back. Every day. Car never gets a chance to get hot. Ignor the mileage, and just change the oil every 3 months. Take it in for inspection and maintenance once a year regardless of miles.