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I have not done it in years but some part stores use to see alt and starter kits. The alt. kits had a new bearing, diodes, brushes and regulator I think for a fraction of the cost and was not hard to do. Does anybody know it they still sell these kits. I know you can still have bad windings but you can test for that before you purchase the kit.
When I first got my truck, I was changing alternators regularly. Now I don't any more, and it's because of one or two things, don't know which.
1. I quit using new alternators from an electrical repair shop (probably made by a honest and hard working 9 year old in China) and put a Ford rebuild in.
2. I found bared wires on the alt harness by accident when changing my egr valve, I had a screwdriver or something metal trying to get the valve out and seen sparks when I touched the wires. It was (possibly) shorting on the intake manifold.
Well I just got done changing my alternator. Bought a new one from Auto Zone (135 amp). I found a link somewhere in here for "the Power Stroke Tool" and it was by far the best $30 I've spent in a while. It took me 20 minutes with a headlamp and in the cold weather to figure out where to get it hooked in and the rest was as easy as the video on their website. www.powerstoketool.com.
I guess just pulling on the serpentine belt works well if you know what you're up against, but this made the whole thing a piece of cake.