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Needing some advice here. My '04 5.4L Lariat 4x4 with 157k miles recently started rattling valves at startup and continuing to knock through the rev spectrum. When coming to a slightly harder than normal stop it likes to sputter before I pop it in neutral and increase revs to bring bring it down to a calm idle. I finally got a check engine light so I pulled the code this past week and Autozone told me it was P0012 (not sure what their explanation of the code was specifically). Whatever it was related to timing and after reading on here I saw the most common problem was the VCT solenoids. Replaced both and the problem's still there ... hesitation when laying into the gas, stalling at hard stops, and what sounds like an exhaust leak from what I can hear inside the cab. Outside the truck I just hear valves knocking. Something's definitely out of time but it clearly was NOT the solenoids. Anyone have any advice outside of either digging into the valve train myself or taking it to the dealership? Already spent over $200 on the VCT solenoids and can't afford to misdiagnose this again.
According to the code chart I have, P0012 means that camshaft position timing on bank 1 is over retarded. Could be one of several reasons for this. I would get a Powertrain and Emissions Control shop manual and follow the diagnostic procedure spelled out in the manual for that code. That should prevent the expense of throwing parts at it and help you find the real cause of the problem. You may be able to borrow a manual from your local public library. It could be a cam phaser. That was a common problem on these engines. But I would want a proper dianosis before I just started replacing parts. Parts can be expensive for these engines and they are labor intensive when compared to an overhead valve engine like the 351.
Figured it out. Ended up being oil pressure. My tendency to think complex before simple caused me to overlook the oil level. Turned out I was WAY low. Did an oil change and the problem is solved. No idea where the oil's going as there are no visible leaks and no smoke coming out of the exhaust. At almost 160k I'm really not that worried about it so I'll just start checking the oil levels and adding as necessary until I can more easily find the cause.