Reduces wear on vehicle's entire drive train
Increases vehicle's overall performance through reduction of load shock
Reduces driver fatigue

There are many types of hitches and towing options available in the market and the choice should be made wisely considering all the factors.

Weight Carrying hitches:
These hitches attach to the frame of the towing vehicle and provide a connection point between the towing vehicle and whatever you are towing. Weight carrying hitches support all of the trailer tongue weight so they are best suited for small to medium sized loads.
Weight Distributing hitches:

These hitches are recommended for heavier trailers. Weight distributing hitches will even out the trailer load between the wheels of the tow vehicle and the wheels of the trailer. You will experience improved steering and brake control.

Bumper Hitches

The bumper/frame hitch is also good for light towing, however it has one serious drawback: It tends to reduce the energy-absorbing benefits of most modern bumpers. The step bumper also relies on solid attachment points on the frame. Beware of aftermarket step bumpers that have no frame attachment points. Another undesirable hitch is the bumper-mount hitch. Most automotive manufacturers do not recommend using this hitch, because modern bumpers aren't designed for towing.

Receiver Hitches

The ball mount (also called ball platform) is removable when the hitch is not being used. This leaves the hitch's opening about even with your bumper. The most popular style of hitch and is what you see on most trucks, SUV's, RV's and vans. Best choice when using bike racks, ski racks, cargo racks. Receivers can also be installed on the front of your vehicle to make launching and recovering boats easier, to attach bike racks while you are towing a trailer or to mount a winch.

Gooseneck Hitches or 5th Wheel Hitches
Fifth Wheel Hitches and Gooseneck Hitches are special hitches mounted through the bed of your truck to brackets or the vehicle's frame.