As you said, we can only hope to slow thieves down. That said, I will be copying this system because I'm guessing fewer thieves will want to make a horrendous racket with an angle grinder for a minute to cut that padlock off.
I would also suggest some kind of system that disables the ignition or starter motor. Preferably both because you could still back the truck onto a trailer in 4wd low.
I always back in when I can, against barriers or walls. And I know, nothing stops trailer theft. But trailer related theft is pretty uncommon.
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