I need to replace the rear lower suspension arm bushings in my '88 260e. The outer bushing (some call it a ball joint) is making a loud squeak whenever I get in or out of the car.

I bought a new lower arm that came with the inner side bushing already installed but the outer side bushing will remain in the axle carrier when I remove the lower arm. Does anyone have experience with removing the bushing from the axle carrier while it is still on the car?

I usually make some sort of tool using threaded rod to extract bushings but working room looks really tight and I have heard that this bushing is pressed into the axle carrier very tight. Any tips would be appreciated.