Re: Rear water pump grease fitting
The fact that water pump grease is very water insoluble, and it doesn't thin out under high temperature is exactly why you want to use it in this application. That rear bearing is open to the cooling system, and you want a grease that will resist being flushed out by the hot coolant. As J Franklin mentioned, you do run the risk of having the grease coat the radiator innards if you squirt in too much grease to the point where it is forced past the bearing into the impeller housing. Give it one squirt every 500 miles.
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