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I'm glad you used the bolts. I would try to get the other two bolts in there too, if at all possible. I don't have much confidence in the welding to hold it together now that I see the pics. I wasn't aware earlier that there was a gap between the hitch and the bumper plate. For me to depend on the welding to hold it on there, the 2 plates would need to fit flat against eachother and the hitch be welded all the way around, with a welder that has more juice and using shielding gas instead of flux core. Fortunately your trailer isn't heavy. It would have been a good idea to put a piece of 1/2" plate in between the bumper plate and the hitch to take up the gap so the bolts won't be as likely to come loose. It's probably too late for that now.
I also agree about attatching the safety chains to something other than the hitch or bumper. I would attatch them to the frame. You can get longer safety chains at any trailer supply shop or online at www.etrailer.com so your chains can reach the frame. You can get J-hooks to put on the chains so you can attatch them to the frame easier. J-hooks are available at tow truck suppliers, like www.awsdirect.com and are easier to hook onto frames with than other style hooks. Maybe wire them in place so they don't slip out of the frame.
If you decide to tow anything heavier than the boat, I would strongly advise you to get a frame-mounted reciever hitch to tow it with.
As for the driling, when you drill a large hole, do it in steps. Start with a small bit and work your way up to the final size. Also, the bigger the bit, the slower you should drill, and use oil, like 3-in-1 or gun oil or pnuematic oil or even wd40, to cool the bit so it doesn't blue and lose it's edge.
I've been away from this site for a while, but I'm glad to see that some of the old members are still giving out good advice here. Listen to this guy.
My vote is to go with a class lll or lV frame mounted hitch, bumpers may be rated to carry a load but that rating is easily exceeded, you're as not likely to overload a frame receiver and if you do, it's more forgiving.
Jay, I just looked at your bumper and I would be very concerned with those welds, they are so bad you would not even call them a bogger weld. I bet if you hit that hitch right on the weld with a 12 pound sledge you could break the hitch right off the bumper. BTW: I use a sledge hammer to test vital welds this way.
If you went and posted that picture on http://www.hobartwelders.com/ the comments would probably not be that kind about the welding job. You have good reason to be concerned.
If you want a short term fix for the occasional towing you do, buy a piece of 3/16 x 4" x 12" angle steel (not iron), drill four 1/2" holes in a box pattern through the steel/bumper/hitch combo. Then bolt it together with Grade 8 bolts, nuts, and alloy washers.
You can find 1/2" drill bits that will work in 3/8 drills. Since you only tow 3K, that should be enough. Normally you would use something from 5/8 to 3/4, but, no way are you going to do that type of drilling without a very expensive drill. Remember to use a lot of oil.
Just yesterday i installed a REESE bolt on class 3 hitch. I had to drill out four holes, but it wasnt that big of a pain. And not to mention it looks sharp...
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