The product idea is very good but the execution is not very good. Loops are a great way to secure a load. But the flat plate you put in the truck bed is too small and the bolts are barely long enough. You could spend another $0.50 and make the plate longer so it makes more contact with the inside of the truck bed for more security. I am afraid that under load the small plates will slide off the inside of the bed opening and the tire will detach from the bed. In this case I will make longer plates myself and thread them for more security. FYI you will need a 13mm socket wrench to tighten the bolts (not easy).
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