As Crazy As It Sounds A Number Of Americans Are Renting Tires To Curb Costs

When the tires on their Dodge Caravan had worn so thin that the steel belts were showing through, Don and Florence Cherry couldn't afford to buy a new set.

So they decided to rent instead.

The Rich Square, N.C., couple last September agreed top pay Rent-N-Roll $54.60 a month for 18 months in exchange for four basic Hankook tires. Over the life of the deal, that works out to $982, almost triple what the radials would have cost at Wal-Mart..

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cidflekken - 6/10/2013 12:45:12 PM

0 Boost

I can only hope that people who can truly afford $55/month and never miss a payment make more responsible decisions. If this couple had a bit more financial savvy, they would have put away about $50/month for the 8 months prior to needing replacement tires, and they would have been able to pay for a new set of tires and not pay the triple cost of renting them.

However, if you really can't afford the $55/month, then that's a different story altogether and renting is a good, temporary alternative, until their tires get repo'd.

Agent009 - 6/10/2013 1:21:29 PM

-1 Boost

My thought exactly.. Why didn't you save up the money first or at least put the tires on lay away (interest free) before hand?

TheSteve - 6/10/2013 12:58:20 PM

-1 Boost

Sort of like using a credit card (and its 20% interest rate) for credit. Wow, some people are really poor money managers.