When were the hoses last replaced? DOT onl allows brake hoses to be used in service for six years (though we all use them FAR longer). On my 82, mine were developing little bubbles due to pressure, not good.

Your best bet? Clamp it with an actual clamp as tight as you can (yes you will ruin the hose), keep the reservoir topped up, then with the caliper replacement, do the hoses (all of them if you dont know when they were done last). Very little $$$ to do. You get to flush brake fluid too while at it. Its a win all around.

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Current Diesels:
1981 240D (73K)
1982 300CD (169k)
1985 190D (169k)
1991 350SD (116k)
1991 350SD (206k)
1991 300D (228k)
2008 ML320 CDI (199k)
1996 Dodge Ram CTD (442k)
1996 Dodge Ram CTD (267k)

Past Diesels:
1983 300D (228K), 1985 300D (233K), 1993 300D 2.5T (338k), 1993 300SD (291k)