I get an old rim, the same size that's on the car now, and when I get new tires I have them put the best old tire on the extra rim and store that in the trunk where the tiny spare was. It is higher than the well is deep, so I just throw a fabric tarp, then a plastic tarp over it,pack my emergency car kit around that, and I'm good to go. Sure beats either having a totally useless (flat) spare, or a small spare that's not recommended over 55 mph.
I also duct tape an extra car key on the back of my license plate. I don't trust the magnetic key holders, as years ago I lost one. Also by doing this, it keeps you out of the dirt, wet, grease, etc. if you happen to put the magnetic holder somewhere more creative and hard to reach (lot less likely for someone to find).
_________________________
seeking to balance risk and reward
Audaces fortuna iuvat...fortune favors the bold
Practice methodical caution...Les Stroud