I bought this vehicle with the full knowledge that the trailer hitch was either going to have to be replaced, or I was going to have to install some sort of bionic trailer hitch. I chose the latter.
The vehicle bottoms out so often, that the bottom metal piece of the trailer hitch was broken, and useless.
So, I got an aluminum "cast" to go around the trailer hitch. It was such a tight fit, that I had to grind down both the hitch and the cast. After some serious hammering to get it on (sorry neighbors), I was finally able to get the cast all the way to the end of the hitch.
After that, it was just a matter of drilling new holes and putting the bolt though. i wouldn't suggest this type of fix if you are actually pulling anything, but it works for me since I just have a cargo carrier.