Friday, March 23, 2012

Rent-to-own tires

Yes. It's come to this. Many Americans now struggle to put tires on their cars, and some apparently don't have credit sufficient to make an out-right purchase.
Photo courtesy Anna Cervova

How do I know this? Because rent-to-own tire stores have entered the market.

Tire prices have risen rapidly in recent years. And you can't entirely blame tire makers or commodity prices.

Blame Barack Obama. He got higher tire prices rolling in 2009 when he slapped China-made tires with import tariffs. He said it would help American workers, but even Huffington Post reported the protectionist tariff was also about pandering to American unions to win support for the Democrats' health care reform plan.

Today, we have an America where both health care and tires are more expensive than they were in 2009. It's an America where some now drive on rented tires because they can't afford a cash or credit buy, and there are direct Obama policy choices that helped put us here.

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