Riding on Borrowed Time


Briefcase materialWhile I am not sure many of you reading this are in the main audience for this blog post, I will post it anyway without making any assumptions.  If anything perhaps you can share this post with people you know who may benefit from the read and information.  Here goes..

Vehicle owners need tires for their vehicles.  Tires need rims but all rims are not created equal.  If you purchase a new vehicle you typically receive the standard rims which have varying degrees of flair.  Of course, dealers may offer you upgrades on your rims.  But the real market on rims is in the aftermarket.  Most of you have seen or heard the commercials and pitches to “ride in style”, “roll on 24’s”, or otherwise make significant upgrades to the wheels and tires on your vehicle.  Unfortunately it seems the people most likely to purchase these upgrades is least able to comfortably afford them.  Not to mention the upgrades actually made are almost always unnecessary; one could likely get by with a less flashy and more affordable set of rims, tires, wheels, etc.

I will forego naming names but suffice it to say that there are numerous sellers of aftermarket rims and wheels and accessories thereto.  With the prices on these “packages” often approaching $1,000 or being more, one would be well-advised to determine the advisability of the purchase.  (What makes even less sense is to rent or lease rims or wheels…..big mistake.)  I have reviewed a few purchase contracts for rims and the interest rates have been in line with rates found on some credit cards….yikes!  And if one gets behind on payments or otherwise breaches (or allegedly breaches) an agreement there may be a repossession or other debt collection action on the horizon.

Perhaps the most compelling reason to avoid pricey aftermarket rims and tire packages is that these items add no real monetary value to your vehicle.  Sorry….sentimental value and your sense of style regarding your tires/wheels do not translate into additional money for you when it comes time to value your vehicle.

In the end make the smart decision when spending money on your vehicle.  A vehicle a depreciating asset that serves an essential function.  To ensure it fulfills this function I suggest you forego expensive customizations and save your money for maintenance and repairs.

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