Have you ever given thought to how much you spend on tires in their lifetime? This total is referred to as the “total cost of ownership” in the tire industry. Despite having a relatively straightforward task of putting rubber to road, tires are subject to a variety of factors that can impact their total cost. Consider these cost factors when making your next tire purchase:
Purchase Price
Obviously, the upfront cost will play a significant role in the tire’s cumulative cost. Don’t be deceived by lower initial prices. The cheapest quality tires can sometimes be the most expensive in the long run. If the quality of a tire is less than adequate, costly, and sometimes dangerous, repercussions are inevitable.
Overall Service Life of the Tire
The duration of a tire’s usefulness is a primary consideration in respect to a tire’s total cost. If a tire is durable, the amount of replacement tires can be diminished. Short-term tires, on the other hand, can be shockingly expensive as replacements are frequently necessary.
Installation Costs
As you’re considering your tire purchase, you may be tempted to purchase less expensive options to save money. Long-wearing tires reduce how often you’ll have to purchase and install. A typical mounting and balancing costs between $60 to $100 per set, so think about these fees as you calculate your total cost of ownership.
Disposal
Because of environmental restrictions and the tough nature of tire material, tire disposal can be an expensive endeavor. Being aware of a disposal method even before purchase can save your budget in the long run. Remember that the more often you replace tires, the more you need to pay for the disposal of old tires.
Rolling Resistance and Fuel Efficiency
The amount of friction a tire imposes on the ground is a critical factor in determining fuel efficiency. If a tire has excessive friction, the vehicle is unnecessarily dragging, expending fuel—an obvious addition to cost. A couple factors to help lower rolling resistance are:
- Ensure all your tires are properly inflated. Proper inflation will not only maximize the time your trip takes, but it will also be key in the longevity of your tire. Experts have found that a 0.5-1% increase in fuel consumption is a result of vehicles’ tires being underinflated by just 10 psi.
- The design of the tire itself plays a vital role in decreasing rolling resistance. This means both the materials used to make the tire as well as the application the tire is designed for. When purchasing tires, knowing the rubber compound of the tire and ensuring you are putting the tire with the right application for your truck is also pivotal in making sure you drop your rolling resistance and get the best fuel economy for your trucks.
Casing value
A tire casing can serve as another costly counterpart to a tire. Don’t overlook this important area. With proper tire management, a quality casing can be retread a second time to maximize your budget.
Driver comfort
No one wants to spend hours in a long-haul truck and experience an uncomfortable ride. Lumbar pillows and pain relievers can rack up expenses if your ride isn’t smooth. A well-put-together tire alleviates such unpleasant experiences.
Safety
Vehicle accidents are costly for a host of reasons. If a tire possesses too little friction, the danger of sliding is increased. Accidents aren’t a welcome thing, and you don’t want your poor-quality choice of tires contributing to out-of-pocket expenses.
Replacement Cost
When you are evaluating the cost of replacement tires, verify if there are any add-on costs. Do the cost of replacement tires bear a similar cost to the original? Does your contract allow a discount on replacements? These costs are often missed when calculating the total cost.
Warranty Considerations
If the tires have an associated warranty, inevitable costs will contribute to the total cost of ownership of your tires. Of course, warranty purchase expenses may be worthwhile if sought strategically and thoughtfully. Be sure to review carefully.
When considering the total cost of a tire, it is essential to thoroughly examine all the components included. By taking the time to perform thoughtful research, savings of significant proportions can be attained.
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