Fits 3" lower in my 2" receiver. I would have preferred the hole to be a bit closer to the hitch itself (but maybe other receivers won't pick this up - they probably compromised for versatility). The first time I wasn't paying attention, I "barked" the damn thing with my shin. I'm going to drill the hole myself and still feel like I got a good deal on this (compared to the prices I would pay for other 'offers'). I have a beautiful ball cover knocked down from my old hitch that doesn't fit when closed, but I won't shed any tears on this occasion.
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