Abstract: The thread protecting device of the present invention includes a U-shaped clip with a hollow cylindrical cap mounted thereon. The clip includes spaced apart upper and lower legs defining a channel therebetween for receipt of a portion of a vehicle frame. The cap includes a threaded plug in the lower end thereof and a closed upper end. A carrier bolt for a spare tire carrier is adapted to extend through a hole in the legs of the clip, an aperture in the frame, and the threaded lower end of the cap such that the threads are enclosed within the cap. A grease fitting is provided on the cap so that grease can be injected into the cap for lubricating the threads.