Here’s What You Need to Know About Financing Wheels and Tires
The rise in the sales of aftermarket and custom car wheels has created a mini-revolution of sorts. There was a time when you had to stick with the boring and lackluster OEM rims your vehicle manufacturer provided you with. There was no way you could change them to fit something a bit more tasteful because the options were missing.
That’s no longer the case.
Several sound and practical off-road rim financing options available, you too can now buy some of the world’s top brands in this niche and fit them on your favorite vehicle, instantly transforming it from a staid ride into something that has a lot more character.
This sort of customization is possible when you purchase high-quality brands like TSW Wheels, Fuel, MKW and so on.
But there is a problem: some of the world’s best aftermarket wheels are pretty expensive. Considering that you need to purchase a full set and a spare for your SUV, it can be considerably expensive.
This is where the concept of off-road rim financing comes in.
Several ‘buy now, pay later’ financial companies operate across the United States which will help you purchase the set of your dreams by lending you an amount at the point of sale or POS.
These companies are collectively called the ‘bnpl’ providers. Two of the biggest players in this field in the United States are Affirm and Progressive Leasing. In fact, one of the biggest players is called Off-road Rim Financing!
There are several questions and myths that surround the financing of wheels and tires.
Let’s tackle some of the major ones here.
Wheel financing FAQs
These are some of the most common doubts people have.
- Is it possible to purchase high-end TSW Wheels using financing?
Yes, it is absolutely possible. Once you have selected the right set of custom wheels for your vehicle, you can contact your retailer and ask them about the financing options they offer. Most modern retailers, like California’s Audio City USA, have tie-ups with ‘bnpl’ companies.
For example, if you avail off-road wheel financing using Affirm, you will only have to submit minimal paperwork and the company will instantly transfer you the amount needed.
It is vital that you select a retailer carefully too.
- How long do I have to repay the amounts?
Typically, you have 12-18 months to repay the amount plus the accrued interest. However, certain retailers might help you secure a longer repayment period. If you are purchasing several wheels and tires at a go, the repayment ceiling goes up to 36 months.
Thus, the maximum time you get to settle debts is 3 years.
- Are off-road wheel financing options available only for off-road-capable wheels?
No, that is not true. Off-road financing is available for all sorts of custom/aftermarket rims from the biggest names in the industry. You can use the financing help provided to purchase any model you like as long as it’s branded.
Are you planning to buy a high-end set of sports car wheels? You can easily do so by availing yourself of the services of these two financial services majors.
- Is there a maximum amount which Affirm and others will lend?
Yes, there is. The maximum amount you can expect is $17,500. This keeps changing every year, of course. Progressive Leasing also has a similar ceiling, and both provide several flexible plans to help you settle the loan.
This essentially means that you can easily purchase the most modern set of TSW Wheels which you have been watching out for!
- There’s a company called ‘Off-road Rim Financing’. Is that a real lending or bnpl company?
Oh, yes! Off-road Rim Financing is one of the biggest names in this business. They offer virtually the same services as Affirm and others do. They have a very high trust score on multiple US crowd-review sites. If you wish, you can contact them directly or via the retailer.
Note that this company is most active in financing wheel & tire packages for bigger vehicles like performance trucks. If you are looking to procure a new set of quality wheels and, say, a worthy set of Michelin tires for your trusted Ford F-150, this is the company you should get in touch with.
- I have a low credit score. Will I get financial assistance from any of these companies?
This is one of the most common questions. The truth is that firms like Affirm or Off-road Rim Financing try their best to ensure that almost everybody who approaches for a small loan is accommodated. Still, some applications are rejected if they do not meet the minimum credit scores.
Bear in mind that when you purchase a set of high-end TSW car wheels, your credit score will go down automatically. Plus, it is not advisable to have multiple open loans simultaneously. These are some considerations you must take into account.
For the best deals and hassle-free loans, use the services provided by Off-road Rim Financing. They generally have the best packages and flexible repayment periods.
Or you can approach the other players in the ‘bnpl’ niche too!
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