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I know this is for T-Birds, but I need help on my 71 Mark III which is the same under the hood. I replaced the alternator in my 71 Mark III and still can't get it to work (replaced the external voltage reg too). I'm thinking I might not have a wire on the right terminal on the back of the alternator. There is a harness with 2 wires. One being the battery and one being the switched power? I have the battery terminal screwed on to the BAT (red terminal on the back of the alternator) and the snap on connecter to the white terminal next to it that is labled FLD. Then there is a stray wire that was connected somewhere and I don't remember where. The issue is that the stray wire wasn't connected to anything on the other end. It has a female plug on the other end which led up to the carburetor area but I don't know where it connected to originally. Does this connect to either the GRD or STA terminal? I only had 3 wires connected to the alternator when I took the original one out? Looks like there should be more? I don't know what any previous owners might have bypassed or disconnected etc.

Attached below is an alternator for reference. Thanks for any help!
 

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The stray wire in question, should be white and black, connects to the S and runs up to the choke on the carburetor. The battery wire connects to the B terminal with the other end connecting to the battery side of the solenoid. Make sure the alternator battery feed wire is connected on the battery side of the solenoid and not to the starter side. I've seen that mistake a few times. You should have a white wire on the F terminal with the other end connecting to the F terminal on the regulator.

Here's a basic diagram for a 71 Ford

 

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Great...thanks for the info. I'm going to have to go over everything because I only have 3 wires and there should be more than that.
 
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