I know more about this than I cared to lol.
I researched all the options for hitches/harness for my 2020 MYP. I bought my car used so the only OEM option for me would be to use the alpharetta GA service center, who is a bit douchey and holy-er than thou, and I hate to deal with them if I dont need to. The cost for OEM would of been $1350 with tax and the lead time would of been whenever the hell they felt like it.
So I researched Eco hitch, which I really like since it keeps the OEM crashbar/tow eye, but its also the most expensive aftermarket option, and not readily available. But .. its also the heaviest since it retains the 20# crashbar while adding a 40# receiver. You dont need a tow eye once a hitch receiver is installed, either. But I still do like the added crash protection of that big aluminum crash bar.
Note the OEM Tesla hitch receiver ALSO REMOVES THE CRASH BAR, so its no better than the drawtite in that regard !
Then there is the drawtite. Uhaul and Etrailer both sell it (Uhaul just slaps their ugly stickers on it) but both are the exact same hitch. If you point out to Etrailer that the Uhaul site actually sells it for $225, then etrailer will beat Uhaul by 10%, more so you pay even less and its in stock/readily available. Awesome install vid on Uhaul site, too. Note that both Uhaul/Etrailer say its ONLY for 2021 not for 2020 Y but they are wrong, Ive got a 2020 and it fits just fine (also NOTHING has changed on Model Y back there so this is total nonsense). I went with the drawtite from Etrailer, and this receiver is massive and heavy. Its probably the strongest thing on the car.
Installation isnt hard at all, you are silly for not just doing this yourself as it wont take even 2 hours. The body assy on the Tesla is really crappy, lots of push pins and such, you can peel the whole body of the back end of the car apart with a flat head and socket wrench in 10 minutes, so this is not like working on a very well put together German vehicle. Tesla has done the absolute bare minimum to keep the body panels from flying off with their 1,000 plastic push pins. This would be a good exercise for all the Tesla fanboys on there who think the car is well built. The body is not assembled very well at all (hence all the crazy gap problems you hear about)
As for wire harness - I know you said you would only use a bike rack and not likely tow but you would be crazy not to also install the wire harness anyway. You never know when you may need to tow a small trailer and now you would have that option (plus resale). The harness is $100, plug/play into the tail lights, the ground wire screws into existing ground location behind driver side tail light, and for power you could run it up to the 12v front battery but honestly why would you do that when the 12v DC outlet is right there. Just splice into the positive wire for that on the driver side rear trunk area. Trailer lights draw 0.4 amps with all going (and 0.004 amps with no lights on) so the circuit there is more than enough to power trailer lights while also powering other moderate accessories on the same outlet.
Benefit - you save a bunch of $. Sell off the OEM crash bar for $250 and this whole thing has cost $100 plus 2 hrs labor vs $1350 + hassle of dealing with Tesla on it. You also retain the use of FSD while towing a trailer which you lose if Tesla does the install and loads in the Tow Mode software. If you dont feel like its safe enough to use FSD while towing a small trailer, great, dont. But it allows the rest of us higher functioning people at least that option. Some of us tow small trailers on rural country highways and using a $10K option is preferred in safe circumstances... I'll be the 1 who makes that choice thanks.
Cons - 2 hours of your time. No tow mode software which means it will beep ONLY while backing up and will show a small yellow line along the rear bumper on the screen while driving forward. Not many cons to save $1250 right ? This 1 was a no brainer folks.