Can I oil my squeaky breadmaker?

We have a sunbeam breadmaker that produces a noisy squeak when it kneads the dough. The squeak is comes from the rotating part in the base of the breadmaker. Its not coming from the bread pan. I'd like to apply a thin coating of a light weight oil aroundthe base of the rotating part to see if it fixes the problem. However, I'm concerned about the implications. The heating element is also at the base of the unit, and I'm concerned that it might not be safe. Can anyone provide me advice on this matter. Thank you.