Spare Tire Mount?

[WombatCA]

Hi Everyone,
This is my first time posting to these forums. I am just beginning my search for a road bike (can't afford new so looking for used) and am hoping to get started with cycling.

In looking for the bike I've been watching Craig's List a lot and I came across a bike rack that looked like it might be a good deal. It's a Thule Spare Me bike rack. I drive a Honda CRV and like the idea of a rack that can fold down rather than having to be taken off and on every time I want to use it (some might call me lazy, but I prefer "efficient")

Has anyone used this or other bike racks and can you give me a review? I don't know if it's crazy to buy a rack before I buy a bike, but this one is cheap enough I'm considering it... I'd appreciate some advice before I make my first (of probably many) bike related purchase!

ETA: Oh! FWIW, I think I need about a 52 cm bike, in case that makes a difference