My '93 is having issues with charging. I installed a new alternator, and the battery is new (and tested fine), but it's running still at only 11.63 volts and slowly dropping (while running). I took it to Advanced auto and they told me the voltage regulator is probably bad. I know the alternator is externally regulated, but he said it was going to be the computer? ($300) Has anybody had this issue before, and could tell me how to solve it? I need to fix it by early May so I can drive it back home from school. Also, If anybody could let me know, is the voltage regulator the small black box on the back of the alternator?
Other possibly relevant info, it is a 4L, and most parts are stock. The belt has enough tension. Revving the engine causes it to drop a little faster. turning on lights makes the guage drop a few volts (fog lamps even more so) but the voltage goes up after turning them off. I also have access to one of the school garages, with more tools than I'll ever need. (including some electrical equipment)
Thanks for the help and advice,