I beg to differ, timing belts are toothed and cannot 'slip'. They can break with age, and they do develop visible cracks with age. Newer Volvos, 1999 and younger, have a tensioner that is the weak link. If the tensioner fails, it is possible that the belt will either fall off or 'slip'.
Serpentine belts, running the alternator, AC, PS, is not toothed but ribbed. There is a gates tool to measure the depth of the ribs, but if the S belt is changed when the timing belt is changed, it should be just fine. The S belt might slip, and when it does, the driver will hear the noise quite well!
Antifreeze spilled on a belt is not good news, but it can be washed off with copious amounts of water. The problem is then, the ribbed or toothed side of the belt and the gears and rollers that are turned with the belt. It is quite difficult to clean with the car jacked up and the engine running.
I had an alternator fail due to antifreeze being spilled on it. The antifreeze got into the copper coils and really messed things up.
With all of the autoparts stores selling timing belt kits, I wonder why they don't include the serpentine belt???
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Keeping it running is better than buying new
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