2009 Tow Package - Is this right?

[FaMaK]

For my 2009 X5, after searching the forum, it appears that I have the option of adding the OEM Class III hitch which will require a cutout of the rear bumper. If I don't want the rear bumper cut I could go with an aftermarket rear hitch (anyone know which ones don't require rear bumper cut?) and then I could purchase the wiring kit and somehow mount it? It really kills me to cut that rear bumper - wondering what others think/have done? My dealer is quoting $1100 installed. I know on my 05 X5 there were "supposed issues" if you installed and aftermarket hitch regarding safety, etc. any of those issues here?

Thanks