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My '96 (F-150 1/2 ton - in-line 6, 5 sp. manual) has developed an up and down wobble in the steering wheel. Been going on for about 2 -3 months, but in the last couple of days it gotten considerably worse. There is a distinct difference in the feel of the power steering depending on the position of the wheel (up or down). Fact is, I'm kind of leary of driving it now that the problem has become so acute.
I looked behind the wheel and saw 4 nuts. I was thinking of taking the wheel off to see what was going on however the thought of the airbag blowing up in my face put that idea to rest (the last time I pulled a steering wheel there was no such thing as airbags and Nixon was running the country. Is this repair out of my league?
Those four small screws on the back side of the steering wheel attach the airbag to the wheel. Disconnect the battery, wait at least 10 minutes, then you can remove those four screws to remove the airbag. With the airbag removed, you'll be able to remove the bolt retaining the wheel to the column, then remove the wheel using a steering wheel puller.
From your symptoms, it sounds like the bearings in your column are trashed.