Stripped bolt on splash guard

Hello everyone!
Looking for some advice. One of the bolts securing the skid plate/splash guard on my 2005 Tacoma has been stripped for some time. My question is, do I tap for the next size up bolt or is there something else I can use? Will it work if I re-tap the threads for the factory size bolt that is in there now?

Thanks in advance!

 

I stripped mine, that fine thread metric is easy to do that, and hard to find the replacement bolts except at the dealership. I drilled and tapped for coarse thread then used antiseize.

 

There is a fastener supply near my house that has everything I could ever imagine. They have always had anything I needed...even the weird metric sizes and stuff for the Honda XR650L, which is why I was asking.
And for those that live near me, it's called Oregon Bolt INC. Out of the 10 or so times I have been there, I have only paid twice to the tune of less than $1.00. When you only need one or two they kinda snicker, since most of their orders are in the 100's or 1000's.

 

Depends on how bad the threads are. Sometimes you can just chase the threads out with the same size tap and call it good. Otherwise yes, drill out, tap/install oversize.

 

10-4. Thanks guys. I will try with the same size tap first.

 

Tater is correct first try the obvious then the fallback would be to drill and oversize it.