If it is the ground wire...that is any easy fix. Your electrical tape is OK, but the oil will make it come off soon. The wire doesn't go very far and on my '81 it a standard sized spade plug and a large ring terminal on the other end. Making a new wire does not cost much or take much time...trust me, for that age of car it is an important fix because:
Rant # 36: Most people don't even realize a Volvo has a seperate ground wire for the alternator but because the alternator is isolated from the engine by rubber bushings, the ground wire is essential. It tends to fail inside the ring terminal from a combination of vibration, oil and corrosion. It looks perfectly fine, but the wire will pull right out of the ring terminal which means your ground is intermitent.
Do you really want another troubleshooting headache down the road. I have had two of these fail and the first one cost me dearly to diagnose (new regulator/brush pack, rebuilt alternator, battery, lots of time troubleshooting). The second time it happenned the fix took 30 minutes, most of it spend finding the stuff I needed in my disorganized garage.
On kel Udo
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