This is not an easy one. I recommend that you have an auto shop do it.
However, if you want to give it a go, read on ...
This problem is the now infamous, "SAD Axle" (technically, the "Auxiliary/Accessory drive shaft") repair; the bushings at either end tend to wear out between 150,000-250,000 miles such that the car squeaks at low rpm's. It's not a dangerous condition, but certainly is annoying and can be embarrassing. This axle couples the engine to the water pump and alternator, and goes from the engine forward.
To begin with, you need a lift or good jack stands and a metric socket set. Also, you will need a set (2) of new SAD bushings (either aluminum or plastic). The Toyota kit is Part #D4374 (04374-28010) and costs about $225. The most reasonable SAD bushings are found at ebay.com (search "Toyota Previa SAD" or "Toyota Previa bushing") and be sure to get the one that corresponds to your model year. Also, www.previaparts.com has good pictures of the SAD axle and bushings.
A pro can do this repair in about 30 min-2hr, but an amateur will take 4-6 hours. Locate the SAD shaft beneath the engine. Take a picture of it (maybe a couple of closeups too) for reassembly and alignment later. Remove the three bolts on the (rear) engine side to remove it with the back bushing. Loosen the air conditioner and the alternator belt tension. Remove three bolts from the pulley assembly and 4 bolts/2 nuts from the center support. Remove three bolts from the front bushing and remove the SAD shaft from the vehicle. The front bushing will be much harder to reach than the rear bushing was. Install new front and rear bushings; reinstall the SAD shaft in your Previa. Reconnect and tension the pulley, support, and a/c and alternator belts. You're done!
Toyota Previa was created in 1990.
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