Stu, about towing with your Versa:
We have a FWD 4-cylinder Toyota Matrix, so it's probably the same size. We got a 1 1/4" hitch - 2" wasn't available on our car. I think U-Haul installed it.
We've towed our Sunfish sailboat, a U-Haul trailer, and a few other small things. As long as the weight isn't overly huge, the Matrix does an OK job.
The Sunfish tows nicely because it's low-profile. You don't really notice a big performance change until you fill the gas tank.
Trailers are OK if they are smaller than the car. U-Haul gave us the wrong trailer once, and it was taller than the car. That led to some sucky performance on hills on the highways, but around town it was fine.
Really we've noticed the same sucky performance on highways when we've loaded the roof up with non-bike things (kayak, bags, etc). So I think it's really more about the gearing and aerodynamics than weight.
Just my $0.02 about towing with a small-ish car.