Agree with 1001H entirely so far as the overhang of the pickup tray is concerned - way too long. As for mounting a tow bar, I put one on my Phaeton so the ball is as close as possible to the raer axle. I used the bumper mounts and replaced the rivetts with grade 8 bolts. My bar runs between the two sets of bolts that hold the bumperettes. So far, I have towed a trailer weighing about a tonne (2,200 lb) for 30,000 miles with no sign of trouble from it. I've also seen tow bars braced to the rear spring "U" bolts
I considered putting a tow bar on my '30 CCPU too but decided against fr the above reason. If I need to tow, I'll use the Phaeton.
Rear bumpers are not much different, IMO.