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Mine finally gave out (4 months, VERY little use)...
Used Stainless Fender Washers and a rubber washer in middle to take up gap in the hole where it installs. Also used a Locking Nylon Nut
Over-tightened it a tad IMO but didn't want to use a thicker washer on inside, thought I would have trouble catching the nylon part of nut. IF it ever comes loose, I'll take it apart and put in a thicker fender washer.
Install time including trimming washer was 20 minutes.
I did use loctite as well.
To get inside, I used an 18" breaker bar...bit perfectly. NO wrench/tap/stick, etc...
Same thing did without the rubber washer. Its never coming out.
yeah, I like the washer there...figure if it EVER comes loose, should keep it reasonably centered and the screw won't chew up tailgate. Hopefully that won't happen though...