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Timing belt replacement cost 200

I was going to do this myself, but my sciatica has been acting up, my schedule is crammed and I need the car for school and work daily, so I opted to get a price from a local mechanic with a good reputation for quality work to do the following: Replace the timing belt and tensioner, replace the water pump and replace all of the drive belts on my '87 240 with 350K on it. I am supplying the parts and the coolant. The price the mechanic gave me was $560.00 for labor only. I live in the northeast and I thought the price was a little steep, although I've been "out of the loop" for several years because either me or my son has done all of the repairs on this car. The mechanic said he was adding a little to the book time price because of the high mileage. The car is clean and very easy to work on, not a bomb by any means. Do you think the price is fair, or should I keep looking?
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