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Tuesday 12 March 2013

RIM FINANCING: Prospect of Tire and Rim Financing

Tires are an important component in the functioning of a motor vehicle. Without proper tires, a car cannot function up to its maximum potential. Tire is the component that transfers the energy of the engine to the road thus enabling the motion of car. The tire market is a huge market and many famous companies prepare tires. These companies include names such as Bridges tone, Silver stone, Michelin and Yokohama. Tires are measured from their diameters in inches. They come in many sizes. The fitting of a tire to a car is performed by what we call a rim. Rim is the structure which connects tire to the circular motion of the drive shaft. Now if we look at quality tires and rims, one finds that they are more expensive than the general companies’ products. This situation creates a demand for car and rim financing where the charges of these products can be paid over a period of time to an entity that finances the tires and rims. Companies are trying to become more and more integrated and offering solutions that include this kind of financing. Tire and rim market has got good demand for technology and innovation. Market research identifies that such a trend would be gladly accepted and supported.
Financing has known to increase business intensities and buying power of the customers in various fields. Financing specially increases the sales of the luxury tires and stylized rims where a person wants to buy luxury tires but could not do so earlier because there was no option. Efficiency can be improved through financing solutions and people can buy good products and can plan divide its payments according to their own specific arrangements. Research solves many industry problems and research has devised that financing will help grow up the rim and tire industry. Customers truly like financing of fancy rims and surely will buy superior quality options that will help them later by lowering the maintenance costs. It also provides options for customers that are on a tight budget to not buy cheaper options but instead used financing to buy standardized products for which they can pay over time.
These better products will then have a greater service life thus returning their higher rate of costing at the start. This improves overall product quality which ensures that customers to company relations are well maintained and there is a healthy relationship between buyers and sellers of car tires and rims.

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