Been driving my old beater 5.0 GT lately and leaving my 2000 XLT home for my wife. The other day she couldnt get it to start, and it made that "click" sound 5 times then it started. Today she went to take the kids to see Pixar's "Cars" and alas, it wouldnt start. Everything lights up, just get the click everytime the ignition is turned over. First thing I figured was the solenoid. Bought one installed it, click. Battery terminals tight. Am I looking for a bad wire to the starter? Thanks in advance for any insight

 

Inspect the S-Terminal at the starter, it's the one small wire secured to the starter itself by a 10mm nut. Commonly, this terminal breaks and causes a no-start.

 

Sounds like the bolt (or nut) as Quintin was talking about where it goes onto the Starter Solenoid, very common problem, the Starter Solenoid is mounted down on the starter. The Starter Relay on the fender supplies the power to the terminal on the Starter Solenoid. Older Fords had a Spade Terminal here.

Here is a diagram of what we are talking about.
The Diagram is for reference only as yours may not have the Spade Terminal.

 

Thanks for the replies guys, after I got underneath, the large cable terminal was full of green corrosion deposits, and just touching the cable, it broke off entirely, I went to the parts store last night and picked up a new female terminal and hope to get it on today if the rain ever stops. Thanks again!!