THE NEXT TIME YOU SHOP for new tires, you can count on one thing: paying a lot more than you did the last time you bought them. The average retail price for tires has risen seven to 10 percent annually over the last several years, due to rising costs for materials, higher tariffs on certain imports and increased transportation costs, among other factors. Whatever the reason, replacement tires now account for a larger chunk of your total upkeep costs than ever before.

With so much of your money—not to mention your safety—at stake, consider these five tips:

1) Get the right size and speed rating. Unless you plan to “plus-size” your wheels for the sake of appearance or performance, you should match the size of your vehicle’s original-equipment tires. A placard located inside the driver’s-side doorjamb spells out the correct size in a long string of letters and numbers. Beginning with either P (for “passenger car”) or L (for “light truck” on pickups and certain SUVs), it specifies the width, aspect ratio, construction (R stands for “radial”) and rim diameter.

On some vehicles, the string of letters and numbers ends in a letter such as S, T, U, H or V. That identifies the tires’ speed rating—a safety scale that matches the tires’ ability to dissipate heat with the vehicle’s ability to go fast. The placard specifies a minimum speed rating; you don’t want to go with a lower rating, but you might want to go higher for more responsive handling and better cornering traction, regardless of speed. But you’ll probably pay slightly more for higher-speed-rated replacements, and they’ll probably wear faster due to their composition.

2) Understand tire types and trade-offs. Today, you’ll find an array of tire types: all-season, touring, performance, ultra performance and so on. “The key parameters for tires are tread wear, responsiveness or handling, ride comfort, noise and traction,” says Bob Toth of Goodyear. “Different tire types emphasize different characteristics, usually at the expense of others.” For example, high-performance tires will maximize traction and handling but also tend to generate more noise, wear faster and deliver a stiffer ride.

As tires contribute so significantly to a vehicle’s driving feel, consider sticking with the same type that came on your car.

The same goes for tires that are designed specifically to maximize other characteristics such as fuel economy. Low-rolling-resistance tires promise to improve mpg by as much as four percent. Normally such improvements come at the expense of traction—unless the tire maker uses different materials to compensate, which also makes them significantly more expensive.

3) Compare prices. Armed with the precise size, type and brand that you want, compare prices at local tire shops, big-box stores and online retailers. Retail chains’ websites list prices by zip code and often offer Web-exclusive discounts. Online retailers without brick-and-mortar outlets usually add shipping charges, and you’ll need to pay a shop to mount, balance and install the tires—and sometimes to reset the automated tire-pressure-monitoring system,
depending on the vehicle.

4) Read the warranty. The length of the warranty serves as a good indicator of replacement tires’ lifespans with proper inflation and regular rotation. Manufacturers’ warranties usually cover only failures caused by defects in material and workmanship; they offer a pro-rated credit, based on remaining tread depth. Besides the manufacturer’s warranty, many retailers offer warranties against punctures and cuts—again, pro-rated based on tread wear. Know exactly what you’re getting before opting for extra-cost coverage.

5) Check the “freshness date.” Rubber and other compounds deteriorate with age. Before you buy, look for the string of numbers following “DOT” on the sidewall; the last four digits indicate the week and year of manufacturer. For example, “2210” means the tire was made in the 22nd week of 2010. Don’t buy tires over a year old.