I woke up to a nice sized puddle of coolant under the front of my 1987 420SEL this morning. Coolant is definitely leaking from the front of the engine, i can't see exactly from where but by running my hand under the pump reveals its wet, so I'm guessing the leak is from the Water Pump.

I looked up the PeachParts DIY water pump replacement article and have a few questions:

1. is there something other than the water pump in the front of the engine that could be leaking coolant?
2. Assuming it is the water pump, what one should i buy? I'm not rich...the prices range from $441 to $84?
3. What else besides the pump should i replace? thermostat, fan clutch, belts, hoses? the belts are 5yrs old and in good shape. hoses look fine.
4. Why do i need to remove the radiator? there appears to be plenty of room to remove the fan, then pull the pump.
5. What else do i need to consider when doing this job?

Thanks, any help is appreciated.

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1987 420 SEL | 87k miles
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