The looseness is likely due to one or more of these issues, requiring professional repair:
* Worn steering column bushing(s): These bushings are located within the steering column and allow for smooth steering movement. Wear causes play and a loose feel.
* Loose or damaged steering column coupling: This connects the steering shaft to the steering gear. Damage or looseness here is a serious concern.
* Loose steering shaft universal joint(s): These joints allow for flexibility in the steering column. Wear or damage can lead to looseness.
* Worn steering gear: Problems within the steering gear itself can translate to a loose feeling steering wheel.
Do not attempt to fix this yourself. Trying to tighten anything without proper knowledge and tools will likely make the situation worse and potentially lead to a complete steering failure while driving.
Instead:
1. Stop driving the car immediately. This is a safety critical issue.
2. Have the car towed to a qualified mechanic or repair shop specializing in older vehicles. They have the expertise and specialized tools to diagnose and repair the problem correctly. Mention the loose steering wheel specifically.
Ignoring this problem could lead to a loss of control of the vehicle, resulting in an accident. Get it professionally repaired as soon as possible.
