What You Should Know About Financing Your New Wheels

September 8, 2021

Owning a car isn’t a cheap prospect. In addition to car payments that come along with most new car purchases, there are other costs: insurance, maintenance, and repairs. According to AAA (American Automobile Association), it costs more than 8,500 dollars a year for auto upkeep each year. Many people are simply unprepared for these expenses, many of which are unexpected. Tire replacement is included in the “unexpected expense” category despite the fact that most people know that tires do, indeed, wear out. 

If you find yourself needing new wheels but you don’t have the cash set aside to pay for them, you might be in a position to finance your tire purchase. But is it a good idea?

Financing Your New Wheels
  • As with car payments, credit card payments, and other loans, “financing” a tire purchase often comes with additional costs. You need to be careful to ensure you don’t pay too much so make sure you read the fine print. Most people finance their tire purchases in one of two ways: on a credit card or through dealer financing.
  • First, you’ll want to consider the costs of getting new wheels. A new tire will probably run you somewhere between 100 and 300 dollars, including mounting and balancing. 
  • Second, you need to consider the cost of financing. You might be able to finance this purchase on a new credit card that offers an introductory period where you’ll pay no interest. But after the introductory period ends, you could end up paying 20 to 30 percent interest—and that can add substantially to how much you’ll end up paying for those new wheels. 
  • Of course, if financing is the only way for you to get new tires, it might be worth considering. Driving on tires that are worn can be dangerous—particularly during the winter. Driving on inadequate tires can put you and other drivers in danger. 

Financing Your New Wheels at Mile High Wheels

At Mile High Wheels, we want everyone to have a good set of tires on their vehicle. Even our customers who might have a low credit score, we believe you should be able to get the wheel and tire package of your choice. Customers appreciate our 90-day, same-as-cash financing option for all of our customers, regardless of a low credit score.  We have helped hundreds of drivers get the wheels and tires they want. And the chances are excellent that we can help you as well.

Here’s what you’ll need:
  • A valid state ID or driver’s license showing that you are over the age of 18
  • A checking account that is at least 90 days old
  • A steady job for the past six months
  • A down payment of just 10 dollars
We will run your application through our preferred provider, and those who are approved will be able to finance their purchase from 250 to 2,500 bucks. If you pay off the loan within 90 days, you won’t have to pay any interest. It’s really that easy!

We are seven days a week so come on by or call 720-535-4081 today and talk to us about financing options for your new wheels.
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