I was given an old craftsman drill that works fine. Does anyone know if there are any oiling points or things I need to check for to keep it running and useful for the foreseeable future. Also if somebody knows exactly what the age of this drill is would be helpful.
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Wow, what a gift!
Unfortunately, there doesn't seem to be any record of your drill in existence.
But, since it's that old, you should be able to maintain it. (Newer ones are sometimes made to be disposable)
Watch for sparking at the openings in the back of the drill. As soon as you see them, take the drill apart and pull out one of the brushes, take it to a good hardware store and they should have a match for it. Change the brushes and, while you're there, you might want to use a little very-fine steel wool on the copper contacts that the brushes rub against.
As far as oiling, there are bearings in the front and back of the motor, and a gearbox which requires grease. Taking it apart is necessary for both.
Lubrication of the chuck is just a matter of a few drops of oil, then opening and closing the chuck to distribute the oil.
If you can post a picture, we might be able to provide more assistance.