No lock.
I put the pole pieces to lower the spare through one of the round holes in my rear step bumper and drop it from there. Its tricky, but doable, and you'll quickly become an expert at it. Someone looking to steal your spare won't be deterred by a key hole, but its not available as a defense here at all. Mine didn't get stolen in 2 years of having a super sexy bumper on my truck, but your results may vary.
I put the pole pieces to lower the spare through one of the round holes in my rear step bumper and drop it from there. Its tricky, but doable, and you'll quickly become an expert at it. Someone looking to steal your spare won't be deterred by a key hole, but its not available as a defense here at all. Mine didn't get stolen in 2 years of having a super sexy bumper on my truck, but your results may vary.