Lug nut holder and method of use

1. A method for storing and retrieving a lug nut comprising:

obtaining a lug nut using a socket, the socket having a magnetic portion for holding the lug nut;

providing a first lug nut holder apparatus, wherein the first lug nut holder apparatus includes at least two engagement fingers;

placing an open end of the lug nut onto the first lug nut holder apparatus while the lug nut remains in the socket;

applying a downward force with the lug nut onto the first lug nut holder apparatus causing the engagement fingers to extend and engage an internal threaded portion of the lug nut; and

removing the socket from the lug nut while the lug nut remains engaged in a fixed position with the first lug nut holder apparatus.

2. The method of claim 1 , further comprising:

placing the socket onto the lug nut; and

applying a downward force with the lug nut onto the lug nut holder apparatus causing the engagement fingers to retract and disengage from the internal threaded portion of the lug nut.

3. The method of claim 1 , wherein the first lug nut holder apparatus integral to a lug nut nest, the lug nut nest comprising multiple lug nut holder apparatus attached to a base of the lug nut nest.

4. The method of claim 1 , wherein the first lug nut holder apparatus comprises:

a base;

a barrel, wherein the barrel is coupled with the base in a manner allowing the barrel to move upwardly or downwardly within the base, the barrel having an internal cam portion comprising an internal cam track;

a lug nut engagement assembly comprising retractable fingers, wherein the lug nut engagement assembly is removeably affixed to the barrel;

a plunger, the plunger having a rod with a tip for engagement with the retractable fingers, and the plunger having a lip portion disposed about the rod;

a cam guide, the cam guide having longitudinal rails for engagement with the internal cam track of the barrel, wherein the internal cam track has alternating positions spaced about the internal cam track, and wherein the cam guide is rotatable within the barrel and moveable upwardly and downwardly as the longitudinal rails move through the alternating positions; and

a first spring disposed between the cam guide and the lip portion.

5. The method of claim 4 , wherein the base comprising base mounting holes, and one or more protrusions disposed about an interior surface wall of the base.

6. The method of claim 4 , the barrel comprising one or more external longitudinal barrel recessed portions, wherein the one or more external longitudinal barrel recessed portions are configured to engage with the one or more protrusions.

7. The method of claim 4 , the cam guide comprising an opening longitudinally disposed internally throughout the cam guide, the opening configured for receiving the plunger.

8. The method of claim 4 , wherein the tip is a cone-shaped tip, wherein when the cone-shaped tip engages with the retractable fingers, the retractable fingers are pushed outwardly for engagement with a lug nut.

9. The method of claim 4 , further comprising a second spring disposed around a first portion of the plunger and above the lip portion of the plunger.

10. The method of claim 4 , wherein the lug nut engagement assembly further comprising a top portion having a hole disposed therein, and a slot disposed in the top portion, a pin positioned within the hole for securing the retractable fingers within the slot and allowing the retractable fingers to move inwardly and outwardly in the slot.

11. The method of claim 4 , wherein the alternating positions have a first depth and a second depth.

12. The method of claim 4 , the internal cam track further comprising multiple edges disposed in alignment with a vertical plane of the barrel, and multiple edges disposed in an angular alignment with the vertical plane of the barrel.

13. The method of claim 4 , wherein the barrel has a threaded portion, and the lug nut engagement assembly has a thread portion, the threaded portion of the barrel and the thread portion of the lug nut engagement assembly being configured for removeably attaching the barrel to the lug nut engagement assembly.

14. The method of claim 4 , wherein the plunger is disposed within a portion of the lug nut engagement assembly, within a portion of the barrel and within a portion of the cam guide.

15. A method for storing and retrieving a lug nut comprising:

placing an open end of a lug nut being held by a socket onto a first lug nut holder apparatus of a lug nut nest, wherein the first lug nut holder apparatus includes at least two engagement fingers, and the lug nut nest includes multiple lug nut holder apparatus;

applying a downward force with the lug nut onto the first lug nut holder apparatus causing the engagement fingers to extend and engage an internal threaded portion of the lug nut; and

removing the socket from the lug nut while the lug nut remains engaged in a fixed position with the first lug nut holder apparatus.

16. The method of claim 15 , further comprising:

placing the socket onto the lug nut; and

applying a downward force with the lug nut onto the lug nut holder apparatus causing the engagement fingers to retract and disengage from the internal threaded portion of the lug nut.

17. The method of claim 16 , further comprising:

retrieving with the socket the lug nut from the lug nut holder apparatus.

18. The method of claim 17 , wherein the socket comprises a magnetic portion such that the magnetic force of sock may lift the lug nut.

19. The method of claim 15 , wherein the lug nut holder apparatus includes a cam guide that is rotatable within a barrel of the lug nut holder apparatus.

20. The method of claim 19 , wherein the barrel has an internal cam with alternating positions spaced about the internal cam track.