A vehicle recovery or anchoring system is provided including a winch coupled to a vehicle, a cable retractably disposed in the winch, a selectively removable dual use vehicle component and anchoring structure (DUVCAC), e.g., a spare tire, and a retaining structure that is configured to retract and hold the DUVCAC or extend the same based on operation of the winch. The cable is adapted to selectively couple and decouple with the retaining structure, wherein the cable is passed through a section of the DUVCAC and be drawn against the vehicle and/or winch. Different types of retaining structures are provided including retaining structures that are formed with additional anchoring elements, e.g., folding spades, as well as different structures, e.g., cable sections or loops, to couple with the DUVCAC. Different cable configurations as well as coupling arrangements are also provided. Various methods are also provided.