When your sway bar links have too much play in the ball joint, it is time to replace them. On the 2001 Dodge Caravan, this is a fairly easy repair that you can do in about 20 to 30 minutes with the right tools.
One of the most important considerations when performing this repair is choosing a high quality sway bar link that has the zerk fitting on the sides of the joint housing rather than on the front. Many of the aftermarket sway bar links put the zerk fitting on the front of the joint housing and this can make it difficult to grease the top ball joint after installation. I chose the Raybestos sway bar link, but I also believe that Moog makes a high quality replacement with side zerk fittings.
Here are links to the parts I used:
Here are some useful tools to make the job easier:
If you want to use an impact wrench, Amazon has some pretty decent prices on both pneumatic and electric impact wrenches.
Finally, I highly recommend that if you still have the OEM lug nuts on your Dodge Caravan, replace those crummy things with a set of high quality Gorilla lug nuts. These will not rust underneath the flimsy shell like the OEMs do and will last as long as your vehicle does. Anyone who works on your vehicle and has to remove your wheels will appreciate that you upgraded.
These are the Gorilla lug nuts that fit my 2001 Dodge Caravan Sport. Yours may be different, so be sure to check application before ordering.
Finally, here is the video showing how to replace the sway bar link on a 2001 Dodge Caravan Sport.