Mine was like that when I bought it.
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I took the trim off that hides the reel and firstly blew out the dust with an air line
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(or tyre pump at the garage if you havnt got a compressor) and then sprayed it with a silicone spray whilst pulling the belt in and out.
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You could try WD40 but if you get it on the belt it will end up on your clothes and you may smell a bit odd for a few days
![Laughing :lol:](./images/smilies/icon_lol.gif)
HTH
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Bod