Bag that $3.99 model.... they are usually stamped on the mounting bracket and break easily.
My $3.99 special lasted a month or so. A neighbor welded it and it made too this spring!! Opted for the TSC $10.99 aluminum with ball bearings. Much better and much smoother.
As far as mounting it, I located my on the wheel but with the bracket spanning over one of the steering wheel spokes. Like others have mentioned, the position changes with the power steering, so it really doesn't matter where you mount it. As long as it's secure, that's all that matters.
Terry