Hitch is about $500 with wiring and it took me about 3 hours to install mine (remove bumper, install hitch, install wiring, reinstall bumper - I did an aftermarket Draw Tite so I didn't have to ruin the bumper cutting it - OEM will take a little longer as you have to cutout the bumper). After that you will still have to go to the dealer and pay an hour + labor to have the OEM one programmed to make the wiring work. If you go aftermarket on the wiring, you don't have to program it, but you don't get the stability program changes, which is fine for a small trailer or bike rack, but you might want the programming if you pull a big trailer. You would probably spend $650 to do it yourself, $1500 is one of the higher prices I have seen - $1200 seems to be the normal price, some people have posted that they got it down to around $1000 installed.