My 740 has a creak in the right front area I believe coming from the strut mount bearing. Can this be lubed and what is the procedure or am I gonna have to pony up for a new pair to get rid of it?

All the ones I've taken apart have been pretty much dry inside, so I don't think they are supposed to be lubed. If you were to do so, it would require removing the strut from the car and disassembling it.

If the rubber part is intact, it would be a good idea to clean and lube your original mounts, as there seem to be quality problems with many of the replacements currently available.

Are you sure that's where the creak is coming from? My 740 sometimes has a creak in the front end when it is cold out, most noticeable when both wheels go over a bump at the same time. I believe it is coming from the rubber bushings that connect the sway bar to the body. Haven't tried to quiet it yet.

I have been able to duplicate the noise by grabbing up under the fender well and lifting up not pushing down. It is definitely a creak coming from the strut but because I am alone doing it it is hard to pin down the exact spot. I am going to the dealer on Friday for them to install my 15 dollar u pull luggage rack. I wil have them look at the creak and I will report back to you all when I find out what is up.
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93' 240 Classic Wagon 220K & 92' 740 Wagon Regina/Rex 90K

A creak? When you turn the wheel? If it is just from up and down movement it could be lots of things, and the hardest to get at is the bearing.
Spray some WD 40 or silicone on things to narrow down the area.
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744 & 745 GLE's (IPD a-sbars)16v M46, 245 SE(IPD a-sbars) auto, 242Ti M46(IPD springs and bars), 745GL 8v auto

You can lube it up, but you have to take everything apart to do it-- I think that given the necessary labor, I'd throw in new parts. Stay away from the Scantech and MTC stuff unless you want an opportunity to do it all over again soon.

Good luck!

I purchase the parts from of good quality at a good price if the FCP stuff is not of the best quality and I don't want to pay dealer prices? Thanks

Buy OEM from Borton Volvo in Minneapolis via email. Lube the bearing with wheel bearing grease. Install as needed. This is usually best done when replacing the struts.