We have a Roadmaster Falcon-II tow bar. It folds and stores easy as seen here. It also folds more compact, collapsing the triangle, then folded horizontally, though I've never did that as I never had a need to do so. I also like it's ease of hooking to the tow because the tow bar expands and contracts to help in aligning it to the tow vehicle. Once latched, I roll or dirve the tow backwards to lock the bar in the extended position, then do all the cables and wire harness at that point.
Tow bar shown collapsed, folded & latched vertically.

Shown hooked up to my previous tow vehicle with bar fully extended, ready to leave.
My new tow Jeep Liberty looks exactly the same except my wire cable today is thicker and coily with more wires for the braking system I use, a Unified by US Gear.

I know nothing about the Blue Ox. Maybe it has the same types of features.