I have a creaking noise when turning the steering wheel while standing still or going very slow. What could this be?

 

I have the same problem with my 03 GT. Had it looked at and was told
that the steering rack bushings are made from aluminum and when they
wear out they creak like that. Just replace the steering rack mount bushings
with poly bushings and that should take care of the problem. Order the kit
from Late Model Resto or wherever you want and its not a hard DIY project.
Poly bushings are pretty cheap also.

 

99% sure it's one of your ball joints. mine has done the same thing 3 times...i keep getting the cheap ball joints and they keep going bad.

 

might also check your power steering fluid

 

Its most likely a "dry socket" condition with either the tie rod end or balljoint. I'd check the tie rod ends first (easier to fix)

 

I second this. This fixed "most" of the squeaking in my 04.

 

It is likely this problem...

 

You just need to shorten your gear tube brackets about by about 1/8" I believe they came too long from the factory. I had the same problem and by doing this it fixed the creaking noise. Hope this helps.

 

I brought it to a couple of shops they said outer tie rod bushings are making the sound. Could the bushings quiet down by spraying them with a lube of some kind or is replacement the only way?

 

They are very likely wrong, the steering rack tube bracket problem, and the fix I linked to above, is quite common...