I've borrowed a Silver 302 from my neighbour, and after a few hours use, it's started squeaking. Loudly. I don't know if this model needs oiling or not, and if not, what it may need doing to it - just know I don't want to return it running like an old barn door! Help?

I'm not familar with this machine but will make some general suggestions. I did google it and found a 502 http://www.silverviscount.co.uk/shop/product_info.php?cPath=21&products_id=40 it looks like a economy front loading bobbin machine.

If you manually turn the fly wheel to form the stitiches and listen carefully can you hear a popping as the needle enters the fabric? If yes, its a needle problem. All machines need a new needle for each sewing project, 4-6 hours sewing time, before they go blunt. Cchange the needle for a new one in the right size for what you are sewing (ballpoint for knits, sharp for wovens). Refer to www.sewing.about.com for good general info on machine maintenance, needle sizes and types and threading diagrams, its a wealth of information.

If its not a needle issue then I would suggest that you open up the front flap, remove the bobbin holder, needle and pressure foot and clean out the race area with a small brush, then again manually turn the fly wheel and add a little drop of good quality machine oil to anywhere where you can see metal moving against metal and see if this quietens down the squeaking. Don't use 3-in-1 oil.

You could also ask the neighbour for the manual and check out if it does have oiling points to try and eliminate this as a cause.

Hope this helps a little.