Retreading tires is a popular way to cut overall tire costs. About 85% of all fleets retread, at a savings of about one-third the cost of new tires.

If you plan to retread a tire, there are a couple of things to keep in mind. First, start out with a high quality tire. Second, you need to protect the casing. This means protecting it from heat build-up by ensuring proper tire inflation and not overloading the tire. Proper alignment will ensure an even tread wear.

"If the tire is not maintained properly then it probably will not live through its original life, let alone be durable enough for a retread," says Walenga.

"Fingertip diagnostics"

Cohn says drivers can have a big influence on tire care and maintenance. In addition to checking tire pressure weekly and regularly walking around a vehicle to visually assess tires, Cohn explains drivers should regularly perform something he calls "fingertip diagnostics."

"Drivers should run their hands across a tread," he says. "This way they can detect signs of wear or any uneven tread, which could indicate an alignment problem. They should also run their hands along the tire's sidewalls, checking for cracks and bulges."