If thread pull out and the steering wheel does not pull out then there is definitely a challenge ahead.
Maybe use helicoil system to drill out the holes and install helicoil spring so that the threads may be restored. I'm not sure if it will work on this application though because of the lack of space behind the plate.
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Steering Wheel
REMOVAL & INSTALLATION
Without Air Bag
EXCEPT F-SUPER DUTY STRIPPED CHASSIS MODELS AND MOTOR HOME CHASSIS MODELS
Fig. 1: Remove the screws from behind the wheel - F-150 model without air bag
Fig. 2: Pull away the cover with the wiring still connected
Fig. 3: Disconnect the wiring at the steering wheel
Fig. 4: Matchmark the steering wheel
Fig. 5: Remove the center nut from the steering wheel
Fig. 6: Use a steering wheel puller to remove the wheel
Fig. 7: Remove the steering wheel from the shaft
Fig. 8: Correct steering wheel installation
NOTE: The factory recommends that the front wheels be set in the straight-ahead position and you paint or make chalk marks on the column and steering wheel hub for alignment purposes during installation. Of these two safeguards, it is more important to mark the column so even if the column is moved slightly, the steering wheel can still be repositioned in its original position.
- Disconnect the negative battery cable.
- Remove the one screw from the underside of each steering wheel spoke, and lift the horn switch assembly (steering wheel pad) from the steering wheel. On vehicles equipped with the sport steering wheel option, pry the button cover off with a suitable prytool.
- Disconnect the horn switch wires at the connector and remove the switch assembly. On trucks equipped with speed control, squeeze the J-clip ground wire terminal firmly and pull it out of the hole in the steering wheel. Don't pull the wire out without squeezing the clip.
- Remove the horn switch assembly.
- Remove the steering wheel retaining nut and remove the steering wheel with a puller.
WARNING
Never hammer on the wheel or shaft to remove it! Never use a knock-off type puller.
- Install the steering wheel in the reverse order of removal. Tighten the shaft nut to 40 ft. lbs. (54 Nm)
F-SUPER DUTY STRIPPED CHASSIS MOTOR HOME CHASSIS MODELS
- Set the front wheel in the straight-ahead position and make chalk marks on the column and steering wheel hub for alignment purposes during installation.
- Disconnect the negative battery cable.
- Remove the one screw from the underside of each steering wheel spoke, and lift the horn switch assembly (steering wheel pad) from the steering wheel.
- Disconnect the horn switch wires at the connector and remove the switch assembly.
- Remove the horn switch assembly.
- Remove the steering wheel retaining nut and remove the steering wheel with a puller.
WARNING
Never hammer on the wheel or shaft to remove it! Never use a knock-off type puller.
- Install the steering wheel in the reverse order of removal. Tighten the shaft nut to 30-42 ft. lbs. (41-57 Nm).
With Air Bag
Fig. 9: Remove the air bag module and disconnect the wiring harnesses
CAUTION Read the air bag service precautions in Section 6 prior to doing work involving an air bag equipped steering column component. Always wear safety glasses when servicing an air bag vehicle and handling the air bag to avoid possible injury.
- Turn the front wheels to the straight-ahead position.
- Disconnect the battery-to-starter relay cable for at least one minute to let the air bag back-up power supply discharge.
- Remove the air bag module from the steering wheel (refer to Section 6).
- Disconnect the horn/speed control wiring from the steering wheel.
- Remove the steering wheel retaining bolt.
- Install the Differential Bearing Cone Remover/Replacer, No. T77F-4220B1, or equivalent, and remove the steering wheel. Route the contact assembly harnesses through the steering wheel as it is lifted off of the shaft.
To install:
NOTE: Make sure the front wheels are still in the straight-ahead position prior to installation.
- Route the air bag sliding contact wiring through the steering wheel at the 3 o'clock position. Position the steering wheel on the shaft an align the marks. Make sure not to pinch the contact wire.
WARNING
Make sure no air gets trapped between the steering wheel and air bag sliding contact.
- Install a new steering wheel retaining bolt, then tighten to 23-33 ft. lbs. (31-45 Nm).
- Connect the horn/speed control wiring and clip in place. Connect the air bag wire harness. Tighten the module retaining nuts to 35-53 inch lbs. (4-6 Nm).
NOTE: When the battery cable has been disconnected, then reconnected, some abnormal driving symptoms may occur for the first 10 miles (16 km) until the PCM re-learns it adaptive strategy.
- Connect the battery to starter cable. Verify the air bag warning indicator light on the instrument panel.