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Yes, I did the bushings myself. I replaced the two rear trailing arm bushings and the four torque rod busings. It was not an easy job. I bought the Volvo tool for the trailing arm bushings. They are mounted on the rear axle. The tool was about $180 USD including shipping. I also had to buy a 36 mm 6-point socket to use with it. I pressed out the torque rod bushings on a 12 ton shop press which I got from Harbor Freight for $99 USD. It was just able to do the job. So I spent just under $300 for tools including some pipe fittings to use as "pushers and receivers" in the press. The bushings were not too expensive from the Parts Bin. The cost of having a shop do only the rear trailing arm bushings was quoted to me at about $300. So I came out roughly even and got the torque rods done as a bonus. You'll also need jackstands and a jack to support the rear axle while you remove the rear springs. Because we have four older 240's in the family, I figured we'd do the bushings on some of them and then the tools would really pay for themselves.
There was a fellow on the BB who made his own trailing arm bushing tool and used it successfully. I think it may have been Les Lynne but you can put out a general request for help on the tool. The torque rods are easy to remove and some people take them into a machine shop to have the old bushings pressed out and new ones pressed in. I don't know what this costs.
The Bentley manual was useful to see how to remove the springs, rods, etc. I got the bushings and then went to the plumbing departments to look for pipe fittings which would work. I couldn't find anything for the front trailing arm bushings but they were OK anyway. Good luck on this.
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