Years out of date I know but it may help someone else!
Number one question is are the brakes spongy? Years ago I had this on a Ford Granada that was guzzling tyres. I paid to have the tracking done but all along it was a failed front wheel bearing that had never been noticed! (It was noticed at the tyre fitters where I had to go after all my spare wheels were knackered) Five or six quid for a bearing kit and the problem went away. The brake pedal became hard too!
On the Pug 405 the rubber bushes in the wishbones often wear out. The bushes are not expensive but fitting them can be rather time consuming. Watch out for rolled-thread bush bolts that have their thread a larger diameter than the bolt shank. I saw this on a 306 van that had failed its MOT on worn bushes (slack bolts actually!) You just cannot get the right staff these days! All that was needed was to spanner-up the bolts well hard as on a Sunday it wasn't possible to buy new bolts that were parallel. Possibly the bolts are made that way to allow the suspension geometry to be altered but its more likely that the factory ordered the wrong bolts.
Bottom ball joints are also suspect but there are several types. Usually the ball joint on Peugeots is fitted into a steel bracket that can be unbolted from the wishbone and this makes the job much easier than on cars where the drive shaft nut has to be removed.
Typically those drive shaft nuts are torqued-up to about 200 to 300 foot pounds but once they have rusted for ten or more years removing them will need a 3/4" drive socket set and a scaffold pole, wheel chocks and a method of wedging the brake pedal. A DIY air wrench will have no chance whatsoever of loosening nuts like those.
Good luck!
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