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Rent to Own
custom wheels represent a huge growth opportunity in an industry
some say is reaching maturity. Fewer than 150 rent to own wheel
locations exist in the US today.
The 6th Annual DUB Magazine Custom Auto Show was held at
Americas Center in St. Louis, Missouri Sunday. Over 20,000
people attended the event that featured some of the nation's top
custom wheel suppliers.
DUB, founded in January 2000, is an "Automotive lifestyles"
MAGAZINE AND covers the urban custom car culture. DUB, according
the Urban Dictionary, is slang for twenty inch rims.
While "DUB" may not be familiar to many of us, a quick check of
the shows main sponsors reveals how mainstream this category has
become; Best Buy, XM Radio, even Hot Wheels has a prominent
display.
Making a car an extension of your personality is nothing new,
the choices are simply more broad. In the 1950s, it was fuzzy
dice and chrome valve covers. In the 60s it was psychedelic
paint and peace symbol grills. Custom automotive accessories
have evolved like every other technology. Today, a car
lover's options are limited only by his imagination and wallet.
The single common denominator is wheels. And the market is
enormous.
According to Larry Sutton, founder of Rent-N-Roll, the US custom
wheel market is $3.9 billion and growing. "Industry estimates
say the custom wheel market will reach $10 billion by 2010,"
said Sutton.
Rent to Own custom wheels represent a huge growth opportunity in
an industry some say is reaching maturity. Fewer than 150 rent
to own wheel locations exist in the US today. Sutton says, "That
spells opportunity." The secret is loving cars, and knowing the
business, which is vastly different from traditional rent to
own.
The average wheel rental agreement is $75 per week. "It's a sale
from the get-go," says Sutton. Unlike traditional RTO, wheel
rental is seldom done on impulse, and nearly 50% of the business
is cash; compared to less than 5% in a traditional rental
purchase operation.
Click play above to see video shots and listen to our
interview with Larry Sutton.
See a complete photo gallery (186 pics) of the 2006 DUB Show in
St. Louis, Missouri here.
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RTO Online is the official channel for Rent-to-Own Industry News and the
only independent source of news for the rent-to-own, rental-purchase,
lease-purchase trade. RTO Online (Rent to Own Online) represents the choice
of the entire RTO Industry for trusted information, as it happens. |
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