e-brake issue. handle only clicks in 1 spot

I bought a 2003 Z4 and the handbrake lever only clicks at what I would assume is 3-4 clicks up. I can pull the handle up more but it drops back to the middle spot. I feel very light bumps in the button as if it is just not grabbing the teeth all the way.

I have a feeling that this is an e-brake assembly issue and the whole part may need replacement. I figured I'd ask some Z4 vets before I go dropping some cash.

Thanks in advance.
 
Your feeling is probably right, but it's odd so many teeth are worn. You could verify the teeth are indeed worn. It may be the ratchet pawl spring is weak, or the pawl itself is worn. I don't think you can buy these parts separately, but could maybe get them from a scrap yard.

You could limp along a bit by adjusting the cable so the one place the lever catches is the proper tension.
 
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