I did this and it worked excellent. When replacing the rope on a Motorguide Trolling Motor before it actually breaks, take some braided line & sew the old rope to the new rope, make sure its strait, then pull it right thru. This took me about 5 minutes.
Then there is no need to tie it to the locking slide hole, just run the rope thru the hole & tie a overhand knot in the rope. You may need a small washer to make sure it doesn't pull thru. then when you pull on the rope the knot will pull tight agaist the locking slide hole. Works Great!!!!
Good Luck
Mud Man