So when I push down on the rear of my car and go up and down, I hear some squeeks coming from the rear wheels.

The squeeks aren't loud, but you can definitely hear it.

Any ideas about the problem?

And the cost to repair?

 

Thats a little vague, but i would say one of your suspension links is shot. They don't have grease fittings so when they start to squeak its time to replace them. I'd say check you upper and lower CA's to start with.

If you think you can do somethin like that yourself, should be a pretty cheap job. Take it to a decent mechanic you're prolly gonna pay a couple hundred bucks.

 

If your E brake is on when you do this, it's the pads squeeking on the rotors, probably. Try taking your E brake off and trying again. If I don't set my ebrake hard enough my rear end will squeek when I get out of the car as the weight changes if you know what I mean.

 

If you can hear the squeaks when the suspension loads up when driving over small hills or turning into a corner, it's usually bushing noise. I'm dealing with the same thing right now. It's annoying, but if the bushings seem in otherwise decent shape, jack up the car and hit them with some silicone grease or HHS 2000 (NOT WD-40). It'll quiet it down for the time being until you can replace some suspension parts.

 

How much are the parts?

And is it causing damage?... or they damaged themselves?

 

If the bushings are totally collapsed or are causing looseness, then it becomes a safety issue. Bushings usually squeak simply because they are drying up and shrinking. Jack up the car and wiggle the wheels to check for play. Look at the bushings. If the rubber doesn't look even around the bolt, it's collapsed or failing.

As for prices, you'll need to find out if you need ball joints or simply bushings. It can be anywhere from about $30 a bushing for a DIY to a small fortune if you need to do the whole set of rear arms in a shop.

Most common squeaky bushings are the rear sway bar bushings. Unbolt the rear bar at the mounts and pull out the rubber bushings. Replace them if you have the cash. If you don't and they aren't shrunken or torn, clean up the bar, grease them with a lithium-based paste, and slap it back together.