I know the older cars (W108 and W113 chassis) had a steering column joint just above the steering box at the firewall. It could be taken apart (drop the steering box, etc.) and the hard plastic bushings in the joint replaced. I don't know if a W107 column is like this or not. Have someone turn the wheel while you view the column in the engine bay with a flashlight. Look for play/slop in movement of parts.

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