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Comments about Fulton Fulton Universal Optic Coupler Lock:
I have a lock like this. It's very easy to pick the lock with the file on a pair of fingernail clippers. Insert, wiggle, jiggle, turn and the lock is open. Plus they're highly visible so the lock is screaming "PLEASE STEAL THIS TRAILER!"
Oh, and it won't lock the trailer while it's on your hitch, anyway...