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WARNING: DANGER FLAMMABLE OR EXPLOSIVE. STATIC SPARK COULD IGNITE VAPORS. NO SMOKING, MATCHES OR OPEN LIGHTS. PORTABLE FIRE EXTINGUISHER REQUIRED. PROCEED WITH CAUTION!
Step 1: Obtain a drill, drill bit, and a lubricant. (23/64 in. is preferred)
Step 2: Set your drill to the highest setting or drill mode if equipped.
Step 3: Remove the little chrome guard around the cap by prying or drilling until it pops out and lodges itself on the drill bit. (You will need to reverse the drill and use pliers to hold the cap to remove it from drill bit) See Pic #2
Step 4: Once removed, add some lubricant to the lock and bit and begin drilling. Continue to add lubricant as the bit progresses downward. If the area becomes hot to the touch, STOP drilling and wait until the area cools as this will induce a fire hazard. See Pics #3, 4 and 5
Step 5: Drilling into the latch part of the lock should unlock and remove the cap. If not you will need to pull the two pins/latches on the bottom inward and lift upward. If the springs are still present, move one inward latch and lift up to expose the latch, release pressure on the spring and remove the pin from the side completely, repeat for the other latch. See Video & Pic #6
Thanks, just updated the post and added a how to video to youtube, may bring more traffic to this site. Plan on making this truck project a how-to series.