Most often, ticking noises in the cold have to do with the tensioner belt. A tensioner maintains constant pressure for all the belts in the engine compartment, so when it starts to fail, it can cause a ticking noise or a high-pitched squeal.
It’s relatively inexpensive to fix. The part itself costs about $150 and you can get a new one installed by a mechanic for about $225 to $250. Because it’s started to give out, taking care of this problem now is often a smart idea, as you’re going to need to replace it eventually anyways.
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