I have a ball joint on back bumper. Is there a way to convert it to a receiver hitch?

How much weight are you pulling. There are cheap receivers that bolt to the bumpers but I would not trust them. Will assume it's a '99 there are multiple suppliers that would make a bolt on receiver for your Ranger. Here is the first result: http://www.etrailer.com/Trailer-Hitch/Ford/Ranger/1999/13019.html?vehicleid=1999301979 160 isn't bad. You could also try the wreckers if your on a buget. Might find a ranger with the correct hitch??

I would be pulling very little. It would be mostly for a bicycle carrier. I can't find a carrier that would work with my ball joint. Those that would work are for 3/4" shanks and mine is the smaller one.

Yah that would be light. I would still go with the receiver. Should add some resale. Even a used one, little paint.

check your local srap yard,i got a used 2'' receiver system for 60$ only took about 15 min to install