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It doesn't make any ticking sound when the engine is cold, but after about 5 minutes its starts. I don't seem to hear when I am driving it. Could it be a lifter out of adjustment?
Sounds like a bad cam follower. The 4.6's were bad about it. I know this is a 5.4. Same type of valve train. Gunslinger did ask a good question though. Does it get faster with engine speed? Once the noise starts turn it off and take the belt off. Start it up and if the noise is still there that eliminates all the accs.
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a fan belt that's missing a chunk out of it will also make a ticking sound. as the missing piece goes around the pullies and tensioner it ticks. i know this doesn't help zackb but i thought i'd throw this info in anyways.
08 f150 xlt with xtr package, white supercrew, 4x4, 5.4 with 3.73 LSD, 6.5' box, Sct and 5* 87 perf..SSI 87 & 91 TREX..87 Perf MPT and 87 Perf Leading Edge as well. Gott's mod