You can do better than $500, but not much. I bought one and paid $430 including shipping. Here is the info:
For all engine-related parts, I recommend only Genuine Toyota Parts (but you don't have to buy them at a Toyota dealer. For timing belts, I thing...
About $300 for all of the parts if you go to eBay...
And about 8 hours work if it's your first time, about half that if you've already done it.
I would use this video:
You won't find a better or more detailed video than this.
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