Timing belt and water pump replacement

I have a really NASTY oil leak coming out of the timing belt seals area. It leaks out of the engine and the belts fling it all around. When you look under my car, oil spots everywhere as if my geo were bleeding to death. I got quoted on the repairs and the mechanic said it would be a good idea to change the water pump at the same time, and the total would be about $240. Do you think this is worth it? I bought the car for $675 and i've already put in about $300 worth of repairs (clutch replacement and transmission leak) so this is a bit discouraging paying the cost of the car to fix it, but it's definitely something I have to get done. The oil is leaking pretty fast, even with 10w40. I checked my mileage when i was low on oil...32mpg...filled it back up 42mpg. HUGE difference!

My question is how hard is it to replace this by myself? I do have the Haynes manual but does anyone else have any advice or a little mini tutorial on how to do this? Thanks

Brian

I think that's a very reasonable price for the amount of work involved, especially if it includes parts. The savings in oil alone would pay for it...

Too, if it was my car, I'd install along with a new water pump and timing belt, a new oil pump with a pre-installed crankshaft oil seal. With the old oil pump removed I'd check the crankshaft oil seal bearing surface to see if it is grooved. If it is, a repair kit is available for not too much. It's not a bad job if you take it a step at a time. For tools You'll probably need chain vise grips and a breaker bar with a 6 point socket for the crankshaft bolt. Also have inch pound, and foot pound torque wrenches for reassembly. Before removing the pulley, check crankshaft end play while trying to pry or pull the shaft back and forth the length of the block. You might need new thrust washers too. The Haynes manual covers all of this.

Dave

to remove oil pump they have to remove pan and that also requires removing part of exhaust. if oil light wasn't coming on i would leave it alone, if thrust washers are worn out engine is gonna require a rebuild, then your really talking $$. i would replace the seal and belt and water pump. if engine is worn out look at getting a JDM engine, lot cheaper than a rebuild