Thanks for all your replies! So my theory that its something related to the alternator is correct. I checked my alternator today and I don't see any oil or debris attached to it so I think it should be ok. Would it be best to just try and replace the voltage regulator or should I replace the whole unit since I will be pulling out the alternator anyways?

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Main Autos:
1990 BMW 525i
2004 BMW X5 4.4i
2011 Toyota Tacoma Pre-Runner V6