On my old blazer, its speedo still squeaks anyhow, we tried to lubricate the cable. Still does the exact problem you describe, but hey maybe we did it wrong. I think we used a type of silicon grease. Took the dash out and greased it out. Anyhow you might end up having to get a new one.
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87 Mustang 5.0 (308) Notchback - The Blue Baron
Rice Hater's Club member #20
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