I have a 1986 Jeep CJ7 which I recently put a rebuilt engine into. Just today, there's a new problem that's got me stumped. The two rear tires have a greasy oily substance that is literally sprayed all over them (inner tires and inside the wheel wells). I've been underneath and don't see any leaks - this obviously happened while driving. There's a ton of oil. What is the most weird is that it's on BOTH sides - both rear inner tires & wheel wells. Brake fluid is full and looks fine, no drips underneath the jeep. I did hear a semi loud clunk when driving this morning just as I got going and was turning sharply out of the driveway. No leaks up front.
Any ideas?