Re: 2002 Ford Ranger Bad Timing Belt I think it is a bad timing chain.
03 engine doesn't have an EGR. And these truck have 3 timing chains on them. if your getting into the hassle of pulling engines you might as well spend the little more money instead of replacing chains and snag up some low mileage ones.
2004 Ford Ranger XLT FX4 Level II : Weekend Driver (Oct. 2013 TOTM)
2003 Ford Ranger EDGE 4x4 : Daily Driver
1991 Ford Ranger XLT 4x4 Small Block Stroker : On going project
1994 Ford F350 Turbo Diesel 4x4, Short Bed Single Cab : On going project
1967 Ford Mustang Coupe : Restored to original