Tool securing wheel finally — shaft connected to it? (4)

I believe the answer is:
axle
'shaft connected to it?' is the definition.
I can't tell whether this definition defines the answer.
'tool securing wheel finally' is the wordplay.
'tool' becomes 'axe' (axe is a kind of tool).
'securing' is an insertion indicator.
'finally' says to take the final letters.
The last letter of 'wheel' is 'l'.
'axe' going around 'l' is 'AXLE'.
Can you help me to learn more?
(Other definitions for axle that I've seen before include "It's pivotal" , "Rod supporting wheels" , "revolver in one" , "Shaft with wheels attached" , "I take the wheel" .)
