I'd not done any diesel mechanic-ing for sometime.
53k miles? How long has it sat?
The OHC timing belt is at the rear of the VW D24, I think.
You also have a timing belt that turns the the fuel pump and a mechanical fuel distributor (like the Bosch L-jet fuel distributor). I'm not sure.
However, ALL of your answers are most likely here:
The Volvo Diesel Forum
http://d24t.com/archive/index.php
http://en.wikipedia.org/wiki/Volkswagen_D24_engine
Consider wear items, any sort of fuel system seals, fuel system piping, like low pressure rubber fuel line returns to the fuel tank. I'm not entirely sure, yet the high pressure diesel fuel delivery side is in the black nylon hoses - same used for high pressure petrol gas injection from the high pressure pump to the injector fuel rail.
Consider wear items replacement as a safety measure. Also, consider items that do not age well on an idle or sitting Volvo. Exterior to the passenger compartment electrics and electrical connections in the engine bay wiring harness. The fuse box contacts for the fuses can be corroded.
I think the diesel 240s were spared the wire harness with the decomposing insulation, through not sure.
If you can get the sucker to run, and get it in good tune, you have an excellent Volvo 200 series diesel that can run on french fry oil with some preparation and fuel system modification.
The D24 can be temperamental. If not well care for, the D24 can prematurely wear, losing cylinder compression and a host of other problems. The engine is a cast iron alloy block with a light aluminum alloy cylinder head. With poor care, the head can easily warp on these.
You'll want to verify the engine can turn. I'm also unsure if the engine is an interference engine or not, so please be careful.
If you get the thing to crank with a full battery and a crankcase full of fresh oil, perform a compression test with a cold engine (pull all glow plugs so it cranks freely).
Also, if you get the thing to run, replace all fluids. New coolant mix (distilled or demineralzed water, NEVER tap water).
Anyhoo, hope that gets you started.
cheers,
Buttermilk.
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