Here's my dilemma, I want to go with Oldsmobile full wheel covers on my '40 Convertible (Olds engine tie in). The axle protrudes too far out for the hubcap to seat on the wheel, another words the hubcap center isn't deep enough to clears the axle stub. The castellated nut is quite deep (appears to house 12 threads). Is it viable to shorten that nut then cut off a small portion of the axle shaft, rethread it also to get gain more clearance so that the wheel cover will then seat. Bad idea? Options?
Do not compromise the cotter key hole in the end of the Axle!! The next person that has to remove the rear drums and uses the proper puller very well could be shopping for new Axles. Cutting the end is a Bad, bad. idea!
NO, do not attempt to modify the ends of the axle shaft. I will end in disaster one way or another. You have several options 2 of which are quite in depth and expensive. 1, swap the rear out to an open drive that eliminates the protruding axle and hub, 2 replace the axles in the banjo with 9-inch ford (or if available it was also done with axles from a 49 to 51 Merc back in the day) that would include modifying the existing banjo bell to take the 9-inch axle bearing or replace the housing end and brakes to match. 3 (the cheap way) cut a hole in the center of the hub cap to clear the axle nut. If that part bugs the hell out of you (it would me) I have seen small chrome bullets (cones) attached to the center of caps to clear the axle. Looks ok but not great.
simply hold the wheel cover in place, measure how much distance there is keeping it from going on and then get wheels with that measurement plus 1/4" less backspace
Don't cut the axle, use a wheel spacer or a different cap. I happen to know the repop United Pacific 16" Caddy Sombrero caps fit over the axle on a stock 16x4.5" wheel just fine.
You could also use Hot Rod Works 28 Spline slide in axle, bearing, and seal conversion. I think it provides many benefits besides getting the hub caps to fit. JHMO
It seems pretty simple to me; either wheel spacers or wheels with less backspace. The other suggestions remind me of using a cannon to kill flies instead of a fly-swatter.
Wheel spacers are the easiest first choice "BUT" you must remember the basic rule of fastening hardware! Bolt size to nut insert length. Early Ford wheel studs are 1/2" dia. They are also very short in stock form. To not run an extremely high risk of losing a wheel you must have at the very least 1/2" of stud length fully in the lug nut! This means knowing exactly how much more space you need for your hubcaps. Installing longer wheel studs in early Ford rear hubs is a bugger of a job, but it can be done. Choose wisely your next move.
I have been through this Hubcap issue a few times before. To run my hubcap of choice on my 51 required a very specific wheel center as well as rim hoop width. I ended up building the wheels just for the hubcap and brake system. That's often the price of getting exactly the look you want. Don't settle for less, you'll always regret it.