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more than likely it is leaking out of the weep hole located at the bottom of the water pump and is running down to the harmonic balancer,if so your water pump is on its way out
Easiest way is with an air impact. There are strap clamps available that would go around the harmonic balancer that would hold it while the bolt was tightened.
If you put the wrong harmonic balancer on theres probly a 99% chance your going to damage the internal parts of your engine such as bearings ect.. most harmonic blancers run around the 75 % mark brand new so its worth it to get a new one if yours is begging to fail
It is possible that the harmonic balancer has spun.check the rubber around the balancer for cracks or decay.If so replace balancer...
If the oil is leaking from the timing chain cover behind the Harmonic Balancer (main large double pulley the belts run on). After removing the belts you need to remove the Harmonic Balancer using a puller, not to damage it, and then replace the seal in the cover. Inspect the back side of the Harmonic Balancer. The seal only seals to the shoulder of the Harmonic Balancer not the back face. If the shoulder's surface is not smooth replace it or it will leak again. Apply some light grease on the seal and mating surface of the Harmonic Balancer and reinstall. Re-install the belts. If it is leaking around the edges of the cover the sealant may need replacing. Also check the condition of the sealant around the oil pan. Both would require removal/cleaning and re-sealing.
It can cause a vibration at different RPMs. If it is wobbling around on the crankshaft it could cause damage to the crankshaft's snout. And a worst case scenario overtime a faulty balancer could break a crankshaft.
to take the harmonic balancer off, you shouldn't have to mess with the timing belt. but if there is no way around it, the easiest way is to get a marker and just putt a mark on the camshafts, and the crank so you can realine the belt. and just take the belt off.
The harmonic balancer and flexplate are externally balanced on the 400, meaning the balancer isn't smooth and consistent all the way around. The flexplate for the 400 has a balancing weight welded to it. The 350 is internally balanced and has the typical smooth balancer and unbalanced flexplate.
Aftermarket harmonic balancers are degreed well past 20 degrees. Also, you can buy a timing tape to stick to your balancer that is degreed all the way around.
If the sound lessens as the engine revs up, it could be the harmonic balancer. The rubber around the pulley could be bad. This is quite easy to see from underneath the car.
there are 2 crank position sensors. first 1 is the 24x located behind harmonic balancer you will need to remove belt 15mm bolt from balancer and balancer pulley. 2 8mm bolts and 1 10mm bolt are behind the balancer 1 13mm bolt is located on from block which you must disconnect. the other is located on the back of block which is the 7x 1 and this is just a 10mm bolt. It will take some playing around to pull this 1 out but it will come out and goes in very easy. before chaning any1 of these disconnect battery. When putting harmonic back on make sure its lined up w/ key hold and that's it all the way on.
It could be the belt tensioner or perhaps a tension transferral from a faulty harmonic balancer.