Just bought a 96 Vert Z28 - I got a nasty creaking coming from the rear when the suspension
compresses. Since NJ temperature has been running in the teens lately I haven't really had the
drive to crawl under and look. I am hoping that is as simple as sway bar bushings. Anybody else
had this problem?

 

I had that problem on my '95 with t-tops. It got totaled before i could fix it but my mechanic also thought it was the sway bar.

 

I've got a 99' convert. and it does the same thing. Actually, everyone I know that has a Camaro has the same symptoms. It's especially noticable when going over speed bumps...You're right though, it's the sway bar bushings. An easy fix. RkSport has a bushing kit that's moderately priced. I've just been dealing with the "grandma's rocking chair" sound. It's nothing that serious, but kinda annoying.

 

Add me to that list too...

mine only happens over speed bumps. Sounds like small little marbles falling onto concrete. Annoying...

 

There are 2 things I did at the same time that eliminating squeaking from the rear: (could have been either)
1) grease rear sway bar under the "strap" bushings--or whatever they are called
2) grease the side of the LCA rubber