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A leaking waterpump will NOT contaminate engine oil. When a waterpump leaks, it leaks externally, not internally. It will leak down the front of the engine, down onto the outside of the front of the engine. Typically coolant leaking from the waterpump will not make it to the ground, it dries up before it reaches the ground.
Coolant also does NOT contaminate the timing belt. If the pump locks up, the belt will most likely be damaged, but in my 8 years of Toyota experience, I have seen maybe 1 or 2 that actually locked up. Keep an eye on the pump to see if it leaks.
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