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It will allow it to take up slack especially if you rotate the engine in the direction where the most slack occurs at the tensioner. Although at 55,000 miles, it's 5k overdue for a change anyway.
As you know, you can run it until it dies with no ill effects, other than a towing bill. But if you like to do it yourself, buy a new tensioner ($40), a new belt ($8 for Contitech or Roulunds), three seals (ten bucks) and go for it.
Even if you have someone do the job, it isn't that expensive.
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chris herbst, near chicago
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