No, it will not.
The cost to replace the timing belt on a 2003 Mitsubishi Eclipse is about $700. This will depend on what else needs to be replaced and the dealer that you use.Ê
In my '97 Eclipse GST (the convertible model of your car), the Crankshaft Position Sensor, or Crankshaft Angle Sensor, is located behind the crankshaft pulley. To get to it, the Mitsubishi shop manual lists the removal of the timing belt. Not a fun job. Since the timing belt will be removed anyways, this is a good time to install a new belt. The Mitsubishi dealership also suggested replacing the timing belt tensioner when re-installing the timing belt.
Each 60K miles.
2005 mitsubishi colt timing belt
About every 60.000 miles
Remove the timing belt cover. There should be a pully that will ratched in and out to tighten and loosen the belt.
It's located next to the crankshaft pulley (the timing belt is going around it). You will not miss it. There is only one sensor there.
Accoring to Mitsubishi every 5 years or 60,000 miles
Crank position sensor is located next to the crankshaft. In order to replace it you might have to remove the timing belt. In the most models you just can remove remove the timing belt cover and replace the sensor.