My 1983 Targa was loose like that and I replaced the bushing and tightened the nut properly. A loose retaining nut is common as well. I sprayed a little white lube in the gap where the bearing is with the old bushing removed. Yhe bushing cost me around $15 with shipping, but I bought two. As often as possible I buy two of whatever parts I find.

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[Nick at Pelican Parts]

Thanks for the additional info. We appreciate it.

- Nick