I-Team: 'Tire Rental' gains traction as alternative to buying - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

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>>

  • GA Lottery targets shadow winners

    GA Lottery targets shadow winners

    Sunday, September 14 2014 5:30 PM EDT2014-09-14 21:30:57 GMT
    The Georgia Lottery tells the Fox 5 I-Team it's launching a full-scale effort to crack down on so-called "shadow winners.
    The Georgia Lottery tells the Fox 5 I-Team it's launching a full-scale effort to crack down on so-called "shadow winners.
  • Graphic video of Forsyth Co. Courthouse shootout

    Graphic video of Forsyth Co. Courthouse shootout

    Thursday, September 11 2014 4:43 PM EDT2014-09-11 20:43:06 GMT
    FOX 5 has an extended clip of the dramatic shootout at the Forsyth County Courthouse.
    FOX 5 has an extended clip of the dramatic shootout at the Forsyth County Courthouse in June.
  • Is that sale really a sale?

    Is that sale really a sale?

    Wednesday, September 10 2014 8:18 AM EDT2014-09-10 12:18:46 GMT
    Many of us pride ourselves on our ability to buy things only on sale so that we can save money, but careful you might be fooling yourself. Take this observation from Kit Yarrow an expert in marketing and psychology:
    Many of us pride ourselves on our ability to buy things only on sale so that we can save money, but careful you might be fooling yourself. Take this observation from Kit Yarrow an expert in marketing and psychology:
  • 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>>

  • Get educated with online classes

    Get educated with online classes

    Friday, September 12 2014 11:17 AM EDT2014-09-12 15:17:09 GMT
    Ever wanted to take classes but thought you didn't have the time or or you couldn't afford it? Well with more and more online options out there, you do and you can. And many of them are free.
    Ever wanted to take classes but thought you didn't have the time or or you couldn't afford it? Well with more and more online options out there, you do and you can. And many of them are free.
  • Celebrate Oktoberfest in Helen GA

    Celebrate Oktoberfest in Helen GA

    Friday, September 12 2014 10:18 AM EDT2014-09-12 14:18:31 GMT
    It's the annual celebration of beer, brats, and bands.  And, everything else having to do with German culture, of course!
    It's the annual celebration of beer, brats, and bands. And, everything else having to do with German culture, of course! The 44th Annual Oktoberfest launches with a parade Saturday, and continues at Helen Festhalle for the next several weeks.
  • Pike Nurseries: Fall table decor

    Pike Nurseries: Fall table decor

    Friday, September 12 2014 9:29 AM EDT2014-09-12 13:29:31 GMT
    Here are some easy (and elegant!) ways to use fall flowers, vegetables, herbs and accessories to create a look for the table that easily transitions for the upcoming Halloween and even Thanksgiving holidays!
    Here are some easy (and elegant!) ways to use fall flowers, vegetables, herbs and accessories to create a look for the table that easily transitions for the upcoming Halloween and even Thanksgiving holidays!
Powered by WorldNow

25 FOX Drive
Dedham, MA 02026

Phone (781) 467-2525

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