The magnet for the camshaft position sensor may fall out of its mount and damage the synchronizers. This causes long crank times when starting the engine and may cause the Check Engine Light to illuminate. If this happens, both the magnets and the synchronizers need to be replaced.Google+
Car Problem Reports
Ford Ranger Camshaft Sensor Magnet May Damage Synchronizers
Ford Ranger Problem
Engines Affected: 3.0L V6, 4.0L V6
Average Mileage: 97,518 mi (78,000 mi - 128,000 mi)
Replaced Sync and Sensor. No more squeak, but now 'Check
Engine Light' stays on. Never came on before.
Visitor, 1999 Ford Ranger, 3.0L V6, 78,000 mi
just started with problem 2 months ago was looking for problem found it when i read repports.
Visitor, 1998 Ford Ranger, 4.0L V6, 128,000 mi
magnet in camshaft sensor came apart and ruined the shaft.