For years I've been using a Thule Rak-N-Loc (discontinued) and consider it one of the best I've owned. I have the extension so I could carry up to 4 bikes. It could also tilt back to grant access to my rear hatch. Only real gripe was that it mounted the bikes very close together so I'd always carry some foam tubing for cushioning. Nice rubber inlays to cradle the bike from the top tube and then I'd strap down the wheels to prevent too much sway. I especially loved the way the rack locked the bikes for security (see picture). I plan on selling this one to help offset the cost of the new one.
Recently, I decided to replace it with a tray style rack since I've added a few carbon framed bikes to my stable. This way the rack isn't in contact with the frame at all. I got the Kuat NV and absolutely love it. I got the black version not the gray shown below. No more messing around with straps or wrenches to mount the rack. It's got a lot of clever built in features like an integrated lock cable, a hitch tightening mechanism to prevent sway, and an integrated work stand. It folds up when not in use and down to get hatch access. You can also buy an extension to carry up to 4 bikes but the add-on is not as convenient to take on or off quickly, it's more of a semi-permanent option. (I don't have the add-on) It's a little heaver than the Thule above but not by much. This thing is so much more solid than similar tray models by Thule or Yakima that I looked at. I don't worry about this one wearing out or failing anytime soon. Also a little pricier but given the quality of construction it's easy to see why. This thing was built solid and built to last. I highly recommend this or if you want something a little lighter they also make the Kuat Sherpa which seems like a great rack as well.
