OP have you already bought your hitch? Is there a reason you wouldn't want to get a rear mount bike rack? I, too, was determined to get a hitch until I realized 1) how much extra it would cost, and 2) possible damage to the hitch when going over bumps in the road since my car is pretty low. My initial concern with a rear mount rack was that it would scratch the paint on my car, so I was primarily only looking at hitch racks.

I ended up getting a rear mount Thule (I think it's the Raceway series) and I have no regrets. It takes me literally 30 seconds to put it on my trunk, and it folds up easily. I can shove it in my trunk during rides if I'm concerned someone is going to attempt to steal it (even though it has a lock). My only regret is that I didn't get the model that holds 3 bikes. Mine only carries 2. There have been a number of occasions when carrying an extra bike would've come in handy. I've used it for about 2 years and there isn't a single scratch on my car.