Rear Spring Strut and Coil Spring Issue...I think?

[Formula1freak]

So I have an issue with my 94 740i that I have had pretty much since I purchased the vehicle, I don't consider it a major issue (more of a nuisance) at the moment since I have had the issue for two years and the problem can be half way resolved with a good ole can of WD40. So here I will try to explain it and see what you think, I have been trying to figure out what the issue is by visual inspection and I can't seem to find the culprit. So I am curious to everybody's thoughts

I have noticed that when I drive my vehicle on the road or the highway at speeds higher than 40+ my back right tire will begin to vibrate, pretty loudly I might add, and its enhanced even more when I have a passenger in the back right seat. I have also noticed that after a good amount of time driven (usually over 50 miles), a high pitched squeak is audible when I am on everything but a completely flat, newly paved road. I have resolved this issue over the past two years by applying a good layer of WD40 to the Right Rear Coil Spring and the Right Rear Strut itself, that automatically gets rid of the EXTREMELY high pitched squeaking noise, but the vibration is still present. The high pitched squeaking noise tends to return 50 miles later or after a good rainstorm has come and washed all that WD40 off . Any advice or ideas on what the issue could possibly be? I might sadly have to resort to taking it to a shop, but I wanted to ask here first because you guys have always provided advice that lead in the right direction to the issue

-Ryan

[mydejavooo]

Are you sure it's not a wheel bearing issue? That could cause vibration and squeaking for sure. Just a thought.

Deja

[Formula1freak]

Exactly what it is, I need to look into replacing both the front and the rear right side wheel bearings thanks! Any idea on any guides I can follow online to replace them ?