Monday, November 25, 2013

Can't afford new tires? Now you can rent them

Large treaded tire, named as a "super swa...
Rent-to-own tire businesses say they give credit-challenged people an opportunity to jazz up their rides. But consumer advocates warn that renters risk finding their cars on cinder blocks.

The customer at the counter is young – mid-20s at most – with a Bluetooth device in his ear and a smartphone in his hand. He's chatting with a salesman of Rent-N-Roll in Union Township about some shiny wheels he's interested in buying for his beater in the parking lot.

"That's a sharp wheel, man," salesman John Smith assures him.

Then Smith spells out the details: It'd cost $60 a week after $112 down for the wheels and tires the customer has been eyeing. To get the ball rolling, he'd need a driver's license, Social Security card, proof of address, proof of income and the vehicle's registration.

"No credit check," Smith says.

If the customer comes back with the paperwork in hand, he'd drive away in a spiffed-up car and a contract to eventually own those expensive wheels and tires for about $240 a month. Read more >>

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