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I've seen many of those hanging on trucks, and most become rusty along with the hitch....then it spreads,..no thanks.
When not towing I remove mine (30 sec). A dab of never seize on the threaded pin and eye..........not always, but, some rust is just the result of neglect.
The shackles I bought at Tractor Supply were galvanized, not likely to rust easily. Besides, I also remove them when not towing. Don't want them bouncing and rattling around.
Use a die grinder and trim the horizontal part a little. Tons of meat. Horrible design by Ford....
I would not call it a horrible design. That's that amount of metal it takes to pass safety testing. So in reality you should prolly blame others. We all know how cheap the manufactures are and they wouldn't spend any extra pennies if they didn't have to.
FWIW - Before purchasing shackles (posted pic earlier), for the same dough, I could have just changed the safety chain hooks to fit the hitch openings.
Another hammerlock user here. Had them powder coated to help them look good a little longer. Word to the wise, take them off before renting a U-Haul trailer. U-Haul's safety chain s-hooks are don't fit my hammerlocks and are very difficult to sneak through the hitch openings with the hammerlocks in place.