clutch squeak and "knock" sound
 

Has anyone with a 1997 Saab 900 SE Turbo or similar car experienced a sometimes squeaky clutch and sometimes a "knock"-like sound and feeling when depressing the clutch? I have been told by the dealership that I need to replace the self-adjusting clutch cable, which costs $175-$200 including labor. Not interested in spending that much money, I talked to a friend who said there's a possibility that the cable could be lubricated. Does anyone know where or how to apply a lubrication to the self-adjusting clutch cable and with what kind of lubricant?