A sad commentary on the state of affairs in the U.S. when renting tires is becoming a booming business. Families who cannot afford to pay for new tires are renting them, often at double or triple the cost.
Florence Cherry, a 57 year old nurse and her prison guard husband of North Carolina pay $54.60 a month to Rent-N-Roll for tires to their 15 year old Dodge Caravan. If nothing changes, they'll rent these 4 basic Hankook tires for 18 months which will cost them $982, triple what Wal-Mart sells them for. A nurse and prison guard must resort to this for basic transportation??
Rising oil and natural rubber prices have increased the cost of car tires by 57% since 2006. That, coupled with declining household income since 2009 and damaged household credit has reduced the consumers' ability to purchase big ticket items. 5 years ago, 27% of American households didn't qualify for credit cards. That number has since risen to 35%. Over a third of U.S. households now do not have access to credit cards. Not too long ago, credit cards were offered to dead people and dogs - and sometimes to dead dogs!
Source: L.A. Times, "High prices are driving more motorists to rent tires", June 8, 2013
Florence Cherry, a 57 year old nurse and her prison guard husband of North Carolina pay $54.60 a month to Rent-N-Roll for tires to their 15 year old Dodge Caravan. If nothing changes, they'll rent these 4 basic Hankook tires for 18 months which will cost them $982, triple what Wal-Mart sells them for. A nurse and prison guard must resort to this for basic transportation??
Rising oil and natural rubber prices have increased the cost of car tires by 57% since 2006. That, coupled with declining household income since 2009 and damaged household credit has reduced the consumers' ability to purchase big ticket items. 5 years ago, 27% of American households didn't qualify for credit cards. That number has since risen to 35%. Over a third of U.S. households now do not have access to credit cards. Not too long ago, credit cards were offered to dead people and dogs - and sometimes to dead dogs!
Source: L.A. Times, "High prices are driving more motorists to rent tires", June 8, 2013
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