"Motor Wreckers"

is a '92 Ranger a “Motor Wrecker” 'cause I just found a busted timing belt.

…fix it or junk it…

I believe the 2.3 is the only engine option that uses a belt and a broken belt should not lead to any damage on these engines.
They’re also pretty easy to change out.

Lucky you! www.gates.com (the timing belt maker) doesn’t list your truck as having a “motor wrecking” timing belt.