Sep 17, 2024
Winter Tire Costs & 5 Money-Saving Tips
How much do winter tires cost for low-end, mid-range & premium brands? What impact do tires sizes and brands have on total costs? We explain, plus offer 5 simple money-saving tips if you're in the market for a set of winter tires this year.
How much do winter tires cost for low-end, mid-range & premium brands? What impact do tire sizes and brands have on total costs? We explain the pricing breakdown, plus offer 5 simple money-saving tips if you're in the market for a set of winter tires this year. Additionally, we dive into the cost-benefit analysis, highlighting how investing in winter tires can save you money in the long run by improving safety, extending the life of your all-season tires, and even reducing insurance premiums.
Each year, many drivers throughout Canada tangle with the prospect of replacing worn snow tires or purchasing their first new set. According to recent data from the Tire and Rubber Association of Canada, over 70% of Canadian drivers use winter tires. Some resort to using all-season tires as a substitute because they are sometimes perceived adequate for the job in most conditions.
However, this is quite risky, especially in regions where precipitations are heavy or important temperature drops are frequent. Drivers who want to go the safest and best route should invest in proper winter tires.
However, understanding more about winter tires, how they are priced, and other tips may go a long way to saving money when purchasing and owning winter tires.
2 major things impact how much you spend on winter tires
When shopping for winter tires, two significant factors will influence the overall cost: the size of the tires and the brand. Understanding these can help you make a more informed decision when purchasing a set.
1. Size: larger tires cost more money and are higher in demand
The size of your tires is one of the most obvious factors affecting price. Smaller tires, typically ranging from 14" to 15", are usually much cheaper than larger tires designed for trucks, SUVs, or high-performance vehicles. The price difference becomes more noticeable around the 17" size range.
At this size, not only are the tires physically larger, requiring more materials to produce, but they’re also in higher demand for a wide range of vehicle types. This higher demand, especially for SUVs and trucks, naturally drives up the cost. Furthermore, larger tires often come with more advanced design features, such as reinforced sidewalls or specialized tread patterns for enhanced performance in winter conditions, which adds to the price.
In addition to the tire's diameter, the width and aspect ratio can also influence cost. Wider tires generally cost more than narrower ones, and tires with a lower aspect ratio (meaning the tire’s height is a smaller percentage of its width) tend to be more expensive as well, especially for performance vehicles.
2. Brand: Expect to pay more for US & European-based brands
The brand or origin of the tire is another major factor. Tires manufactured by US or European-based companies typically come with a premium price tag. This is often due to factors such as higher labor costs, stricter manufacturing standards, and advanced research and development. Brands like Michelin, Pirelli, or Goodyear are known for their top-tier materials, cutting-edge technology, and longer-lasting designs, which can justify the higher price.
On the other hand, Chinese and Asian-based tire brands often offer more budget-friendly options. While these tires are usually lower in price, the trade-off can sometimes be in quality, performance, or longevity. However, many Asian brands have made strides in improving their tire technology, offering affordable options without compromising too much on safety or performance. It’s essential to balance the price with the expected durability and performance, especially in harsh winter conditions.
Aditional Factors to Consider
Aside from size and brand, other factors can also impact the overall cost. For example, specialty winter tires with features like studding or run-flat capabilities will often come at a higher price point. Likewise, if you’re looking for high-performance winter tires designed for sporty vehicles, be prepared to pay a premium for better handling and traction.
Low-end, mid-range, and premium winter tires: expected costs
Typically, a low-end snow tire will cost up to $100. Mid-range models will hold between $100 and $200, and premium tires usually start at $200 and up. Once again, many factors can impact these prices, including the size, but also rebates, sales, demand, and more.
Other cost variables to consider
Some drivers purchase an entirely separate set of rims for snow tires. Although this is an upfront investment, it basically eliminates re-mounting costs. If you are without a second set of rims, a shop must switch the tires on each rim and balance them twice per year, and these costs can add up.
Over time, the extra rims can pay for themselves and more. Barring any unforeseen events like accidents and damage, these will last as long as you keep the vehicle.
Besides mounting and balancing, other costs may also include tire pressure monitoring sensors, tire storage, and even tire cleaning.
Shopping for a set of snow tires now? Here are some winter tire buying tips to consider.
Cost-Benefit Analysis of Winter Tires: Why They’re Worth the Investment
At first glance, purchasing winter tires may seem like an added expense, especially if you already have all-season tires. However, winter tires provide significant benefits that can save you money—and keep you safe—over time.
1. Improved Safety = Fewer Accidents
Winter tires are specifically designed to handle cold, icy, and snowy conditions, reducing your risk of accidents. In Canada, road accidents increase by about 30% during the winter months, largely due to slick roads and inadequate tire traction. Investing in winter tires can greatly reduce your chance of collisions, which means fewer repair bills and lower insurance claims.
2. Insurance Premium Reductions
In many provinces, insurance companies offer discounts for drivers who use winter tires during the colder months. These discounts can range between 2% and 5%, depending on your provider and location. Over a few years, these savings can help offset the initial cost of purchasing winter tires. Check with your insurance provider to see if they offer this discount.
3. Extended Lifespan of All-Season Tires
Using winter tires during colder months allows you to preserve your all-season tires for the rest of the year. Since you’re splitting the wear and tear between two sets of tires, both sets last longer, meaning you won’t need to replace them as often. This not only prolongs the life of your tires but also spreads out the cost of replacement over a longer period, making it more manageable.
4. Fuel Efficiency
While some drivers believe that winter tires reduce fuel efficiency, modern winter tires are designed to perform optimally in cold conditions without drastically affecting fuel consumption. In fact, driving with tires that are not suited for winter can reduce fuel efficiency, as all-season tires may struggle to maintain proper traction and lead to increased resistance on icy roads. Proper winter tires allow your vehicle to operate more efficiently in harsh conditions, saving fuel over time.
5. Lower Repair Costs
Winter tires are built to handle extreme conditions, which can minimize wear on other parts of your vehicle, such as brakes and suspension. By maintaining better control over your vehicle, you’re less likely to experience breakdowns or damage caused by poor road conditions, ultimately reducing repair and maintenance costs over the lifespan of your car.
6. Avoid Fines or Penalties
In certain provinces like Quebec, winter tires are mandatory during the winter months. Failing to comply can result in fines or penalties, which adds an extra financial burden. By investing in winter tires, you not only avoid fines but also ensure that your vehicle complies with provincial regulations.
5 winter tire money-saving tips
There is good news – all is not lost in the sea of potential costs with snow tire acquisition and ownership. Following are some tips to help reduce their financial impact. Plus, a closer look at how to maximize winter tire life in this article.
1. Buy used tires
It is easy to find tires through local online marketplaces using apps or social networks. If you know your tire information, you can determine if the set will match your vehicle. It is also recommended to check used tire tread depth and overall condition when inspecting the tires.
Any tire with less than 5/32" of tread depth should not be used or sold - new tires have 10/32" to 12/32" of depth.
2. Install them yourself
If you have the proper tools, space and know-how, then you can save money by installing the tires yourself. Better yet, if you already have snow tires installed on a second set of rims, then all you really have to do is check tread depth each year before popping them on.
3. Shop year-round
When demand goes down, so do prices. A little extra time scanning for clearance specials and other deals in the spring or summer can bring significant savings. Use the long warm season to find proper rims and maintenance services, and you can spread out the costs over a longer period. When late fall arrives, you will have a set of rim-installed tires ready to put on your vehicle while avoiding the inflated costs of the season.
4. Insurance discounts
Check to see if your insurance carrier offers discounts if you use snow tires. A quick call could help offset some of your seasonal maintenance costs.
5. Don't mix things up
For safety, performance and cost considerations, do not mix tire brands among your set of snow tires. Tread depth differences, materials, ratings, and so much more can lead to uneven wear, safety hazards and even mechanical damage, especially on all-wheel drive vehicles.
Mixing tires can speed up the date for yet another replacement of all four tires and maintenance costs. When one tire wears down, the others are likely close behind, so it makes better sense to replace them all with the same product.
With the proper know-how and a bit of detective work, you can reduce the stress and cost of a new set of winter tires.
