I had to use the spare on my 1999 F150 over a year ago. The tube that guides the long release handle was full of dried hard mud/dirt. I had to do a lot of chipping and cleaning to get the spare down.

Mine broke in 2017. Tire fell off around 30mph. Truck hopped beyond my ability to describe. Fortunately I only had damage to one exhaust pipe and my under pants from the severe pucker factor I experienced. I still have flash backs every time I fart too loud. 😬

Those cables tend to break. The NHTSA tried to get Ford to recall that cable but Ford would not. Ford claims the cable won't break if you don't tighten it too much. The fix is a new replacement cable that has a spring on the end that reduces the stress on the cable. The cable on my 2002 F150 broke dropping the spare tire on the road somewhere on the FL turnpike I think. That is when I found out about the new design. I suggest you buy the new cable for your truck.

Mine was rusted… replaced and got new one… no longer have to use that “key”