Volvo: 97 Volvo 850 GLT, volvo 850 glt, lower cam

Question
Dear Mr Niemi,

I have got a '96/'97 Volvo 850 GLT with B5242T engine. I had the timing belt changed (and waterpump) and a couple of weeks after the engine started to make a funny noise when accelerating. It's not the high pitched noise you hear from many older cars (V-belt?) but rather a lower pitched, 'nagging' noise which only comes up when the engine is cold and goes away after like three blocks. It sounds as if the (timing) belt is loose at the start and tightens up after a few blocks of driving. Could it be the timing belt or tensioner? Second, I have a leakage causing an aweful smell when stopping for e.g. a red light; according to the mechanic it's the valve cover sealant. To have it replaced, it will cost me $1000. However, after 1.5 month I still have not had to refill the oil (touch wood) so I am wondering if I could keep on going without this expensive operation. I am nearly broke and I don't feel like spending another grand not knowing what the noise is at start up (and what else comes up later).
Could you please help me here?

Answer
Frank,
If the belt tensioner is weak or any of the idler pulleys are bad that could also cause a squeal. Test all those before you have major problems.
If the sealant that was used to seal the upper and lower cam cover has failed, your choice is slim. The labor for that job is high.