Are there timing chains on a 1989 560 SEL w126?

Timing chain
 

There most definitely is. If you have more than 100k concider at the very least having it checked for stretch. At 115k I did the following on my SEL: timing chain,tensioner,chain guides(very important!!!,do a search on guides),and the retainers for the cam oiler tubes. I plan on keeping my car for along time so I don't mind doing preventative maintainance. I'm sure more experienced owners could add to my recommendations.

Tim,

I think your experience is totally in line with what benz560sel needs to know. In the inline engines, if maintained properly, the timing chain is usually not a problem. With the V8's, however, you should stay all over the timing chain and it's components. The guides are known to break and wreck the whole thing, not to mention the chain itself. If you here even a trace of a noise, or have traversed a few miles, have it inspected and checked for stretch. Great engines, but they NEED this extra attention.

This is the ounce of prevention worth a pound of cure thing, except in this case it's about 10 ounces of prevention to prevent a 1000 pounds of cure.

Good luck,