Some of this you are going to like, some not.
Changing a Tbelt on a 5 cyl is not that difficult, unless you make it so. Harder to see things?, you bet! And the right front wheel comes off for access.
The Serp belt comes first and is quite simple. Check the rollers and replace if needed.
The Tbelt timing marks are the world's hardest because the one on the crank pulley looks like a small scratch and the bump on the oil pump is too large to be completely accurate.
With VVT, what you need to do is get the 3 timing marks lined up, turn the crank 90 degrees more clockwise, and then back up to the timing mark. That relieves the pressure on the cams. At that point you can take off the belt. I prefer to count teeth in the belt between the 2 cams just to be safe.
The manual tensioner MUST be replaced, the rollers also. Check the water pump for wobbling. Inspect the cam seals for weeping. And put it back together. The water pump will easily last 200K if you use good antifreeze and flush it every three years or so.
Always rotate the engine when the belt and tensioner are done 720 degrees with the spark plugs out to make sure the cams are still good to go. Double check the tensioner setting after that spin.
When you restart the engine, let it run for at least 2 minutes to get oil to all of the moving parts.
The Tbelt can be a pain to get off, but it does come off. The new one goes on easier.
I just posted someone with an XC and gave him a link to a very good pictorial, same engine. http://volvoxc.com/resources/how-to/pdf/timing-belt-replacement2.pdf
Klaus
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Two good Volvos, a 220 and a V70R
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