I-Team: 'Tire Rental' gains traction as alternative to buying - Dallas News | myFOXdfw.com

I-Team: 'Tire Rental' gains traction as alternative to buying

Posted: Updated:

Have you tried to buy a set of new tires lately?  Well, if you haven't, you are in for sticker shock!

Too many families can no longer afford to buy four new tires, so they've turned to an alternative way of getting them. It's called ‘tire rental.'

Now, while tire rental has been around for a while, in the past it was for specialty tires and rims.  That's not what we're talking about. Today, we're talking about regular, run-of-the-mill tires.

According to a trade Web site, the price of tires has gone up 57 percent in the last six years.  At the same time, salaries have dropped and credit is harder to come by, so it's tougher for families to buy a set of new tires.

Now enter rent-to-own tire shops that will let you walk out the door with a set of tires -- perhaps for as little as $50 -- and a monthly payment. That is doable.  

But, be careful because in the long run, you could end up paying twice as much.   

If you have the money, rent-to-own is a bad financial decision. But, if you don't have the cash and really need tires, Conrad Ciccotello -- an associate professor of finance at Georgia State University -- says this is the one time he recommends using your credit card.

  • I-Team Story ArchiveMore>>

  • Credit Cards v Charge Cards

    Credit Cards v Charge Cards

    Wednesday, July 23 2014 7:48 AM EDT2014-07-23 11:48:23 GMT
    You always hear that it's a great idea to get rid of your credit cards, but sometimes it really is the best way to pay. So here's another option: charge cards.
    You always hear that it's a great idea to get rid of your credit cards, but sometimes it really is the best way to pay. So here's another option: charge cards.
  • FOX 5 I-Team Investigates

    Child traumatically injured in beach house elevator

    Child traumatically injured in beach house elevator

    Monday, July 21 2014 8:09 AM EDT2014-07-21 12:09:54 GMT
    Another child has been seriously injured in a residential elevator accident. This is a warning for any family renting a beach house.
    Another child has been seriously injured in a residential elevator accident. This is a warning for any family renting a beach house.
  • Governor reacts to Ethics allegations

    Governor reacts to Ethics allegations

    Friday, July 18 2014 6:40 PM EDT2014-07-18 22:40:07 GMT
    The Governor sat down with Senior Fox 5 I-Team Reporter Dale Russell for his first television interview following allegations of strong-arming by a member of his staff.
    The Governor sat down with Senior Fox 5 I-Team Reporter Dale Russell for his first television interview following allegations of strong-arming by a member of his staff.
  • Contact the FOX 5 I-Team

    * denotes required fields

    We're sorry, but only one entry is allowed per person.
    Thank you for your continued interest.

    Thanks for contacting FOX 5.  To reach our newsroom by phone, please call (404) 898-0100.

  • Good Day ArchiveMore>>

  • Back to School Jamboree with Hosea Feed The Hungry

    Back to School Jamboree with Hosea Feed The Hungry

    Hosea Feed the Hungry will host their annual Back to School Jamboree on Sunday, July 13, 2014 from 10:00 a.m. until 3:00 p.m. at Turner Field. Children will receive a backpack filled with school supplies.

    Hosea Feed the Hungry will host their annual Back to School Jamboree on Sunday, July 13, 2014 from 10:00 a.m. until 3:00 p.m. at Turner Field. Children will receive a backpack filled with school supplies.

  • 'National Dance Day' takes stage nationwide

    'National Dance Day' takes stage nationwide

    Thursday, July 24 2014 9:33 AM EDT2014-07-24 13:33:07 GMT
    Nigel Lythgoe Co-Creator, Executive Producer and Judge of the hit FOX TV show “So You Think You Can Dance (SYTYCD)” which reignited America’s passion for dance and has become a pop culture phenomenon, announces that the 5th annual National Dance Day will take place on Saturday, July 26.
    Nigel Lythgoe Co-Creator, Executive Producer and Judge of the hit FOX TV show “So You Think You Can Dance (SYTYCD)” which reignited America’s passion for dance and has become a pop culture phenomenon, announces that the 5th annual National Dance Day will take place on Saturday, July 26.
  • Former "X Factor" Favorite Opens Studio, Trains Future Superstars

    Former "X Factor" Favorite Opens Studio, Trains Future Superstars

    Thursday, July 24 2014 9:05 AM EDT2014-07-24 13:05:59 GMT
    Any fan of FOX's "The X Factor" will remember Tara Simon, a Top 24 finalist on Season 2. She didn't go all the way on the show, but her career
     Any fan of FOX's "The X Factor" will remember Tara Simon, a Top 24 finalist on Season 2. She didn't go all the way on the show, but her career as a singer -- and singing coach -- couldn't be going better.
Powered by WorldNow

KDFW FOX 4
400 N. Griffin Street
Dallas, Texas 75202

Main Station Directory:
(214) 720-4444
News Fax:
(214) 720-3263 or (214) 720-3333

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices