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Q: Engine dial goes into red zone on 1993 Toyota Paseo

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Engine goes into red zone and wispy vapor starts to come out from under hood. If this is "water pump needs replacing, what is average cost of repair?
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The labor to replace the water pump is about 2.3 hours. I don't know the labor rate per hour in your area. The parts cost is about $125 only including the water pump and coolant. Hoses, clamps, other things are additional.
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