Rim and tire financing, commonly referred to as RTF, is a way of getting wheels and tires without paying the full cost upfront. It’s been used by car dealers for years, but recently it’s become more widely available for consumers. RTF allows you to finance wheels and tires separately from your car loan so that you can make payments at home or on the go using your credit card or bank account. Many people use this type of financing to avoid paying interest. However, there are other reasons why rim and tire financing may be valuable to you.
Save up for emergencies
If you get a flat tire, it can be incredibly inconvenient. A spare will help you get to the next auto parts store or garage, but if that flat tire has damaged your rim or caused damage to your car’s body, it can cost much more than a simple tire change. That’s where rim and tire financing comes in. Rim and tire financing is a way to pay for your tires, rims, and other auto parts on a loan agreement. If you go this route, you’ll be able to save up for emergencies like this one so that you’ll never be stuck with the high costs involved with repair work after an accident or flat tire.
Avoid interest charges
Financing your tires and rims is a great way to avoid interest charges and save money. You can also make fixed monthly payments to pay off the consumer loan. With consumer financing, you can get the tires and rims you need when you want them without having to deal with the hassle of applying for personal loans or other types of financing.
No credit check is needed
Rim and tire financing is a great option for those with low credit scores or no credit. When you have bad credit or no credit, it’s difficult to get an auto loan. However, rim and tire financing companies can provide you with the money you need to buy your car’s rims and tires, which are often accessories that people neglect when buying a new car. The company will lend you the money to purchase your rim and tire set, but they will also take the rims and tires as collateral, meaning that if you default on the loan payments, they can repossess your wheels.
Improved flexibility
Rim and tire financing can offer you a lot of flexibility, which comes in handy when shopping for rims or tires. The lender will determine the financing options available to you. But if you have access to a flexible plan that allows for deferred payments, you’ll get the opportunity to pay for your rim or tire purchases over a period of time. This can come in handy if you need to make multiple purchases of rims or tires and want the option to pay off each transaction independently.
Improved cash flow
Rim and tire financing can be an excellent tool for business owners and fleet managers who want to improve cash flow but don’t have the capital on hand to pay for an inventory of tires and rims. This financing is offered by lenders who specialize in this kind of lending, so you know that all the information given to you about the process is accurate and trustworthy. The financing will be based on your credit score and the anticipated value of your inventory. By taking advantage of rim and tire financing, you’ll likely receive funding faster than you would if you went through traditional means like a bank or credit union.
Access to unbeatable products
One of the benefits of rim and tire financing is that you will have access to unbeatable products. Several different types of tires are available, including all-season, winter, high-performance, and off-road tires. Most shops also have a large selection of rims to choose from. And through rim and tire financing, you will find the right combination for your vehicle and your driving style.
Easy to apply
Rim and tire financing is easy to apply for, and once approved, you get a free set of rims and new tires to drive on while the payment is being processed. This way, you won’t have to worry about getting around without any tires.
Key Takeaway
Whether you’re a business or an individual looking for new rims, wheel financing appeals to the growing number of people who place a high value on the appearance, design, and quality of their vehicles. If you’ve been thinking about upgrading your wheels, tires, and rims but aren’t sure how to pay for them all at once, you may want to consider a wheel financing company that makes it as easy as possible for you to get the wheels you want right when you want them.
