1. Before pulling the timing belt make certain you mark the belt (I use tape) the out side edge of the belt & reinstall the same way otherwise you will get excessive wear on the belt do to a different wear pattern.
2. The best bet is invest in a new belt $25 - 30. The time it takes to gain access to it is more than worth the cost. Cheap insurance plus timing belts are recommended to be replace around 40 - 50 K miles on any OHC engine. Reinstalling a worn belt increase that chance of the belt breaking then your pistons try to eat the close clearance valves - then get out the bigger check book.
3. Once you have installed the new belt and have triple check you are at TDC on #1 cylinder in the compression stroke and both cams are properly aligned - see opposite end of cam shafts - each has a slot - you should be able place a .020" thick (it must be .020" no close to it but on the $$) straight edge into both slots - if not adjust accordingly.
If all oK - take a permanent marker and mark one tooth on the back side of each cam gear that is closest to the valve cover seat and almost directly opposit each other. This way you will know where TDC on your next visit to this part of the engine.
After you pull the old timing belt along with the lower serpentine pulley from the crank shaft. Pull the #1 sparkplug.Then insert a straw into the cylender.Reinstall the pulley bolt into the crankshaft and turn clockwise til the piston tops out.Then sit back down and look at the end of the crankshaft the keyway shold be at a 90 degree angle from the seam between the oil pan and the block.Now that the crank shaft is at top dead center.Remove the valve cover and observe the cam lobes on the forward cam over the #1 cylender thease are your exaust valves and should be positioned in a manner so that if the shaft were to be turned clockwise thay would open. The rear shaft is the intake side and the lobes shold be positioned so the valves would have just closed.Now look at the drivers side of the engin at the ends of the shafts the slots should be level with the head and Bobs your uncle your in time. install your belt.
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