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If you want original method, you do not use the hole on the running board,(that was a carryover from 1939). What you need is spare tire carrier 01C-1434 .It attaches to the bed side only. It was originally riveted on and they all fell off. That is why you typically see them DIY welded back on with the worlds ugliest welding. This bracket will allow adjustment of the tire so it clears the door and does not hit the cab or the fender indent. This all you need to correctly run the spare tire.