[post updated 6/12/2017]
What are wheel spacers? Wheel spacers are rings typically made out of billet aluminum designed to be sandwiched between the axel’s wheel hub mounting surface and the wheel. A 1.5″ wheel spacer will work as an alternative to new wheels (6.25” wheel backspace with a 1.5” spacer equates to a total of 4.75” backspace) but many will argue that replacing your stock wheels is a more durable alternative.
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The use of spacers is an ongoing debate. If you plan to use spacers select a well-made hub-centric (described below) spacer with integrated lug that are 1.25″ ~ 1.50″ thick, and torque the lugs carefully. It’s probably also wise to periodically inspect the lugs to ensure that none have come loose.
High quality hub-centric spacer design with integrated lugs.
I would never use inexpensive spacers that use only the existing vehicle lugs. These reduce the threads remaining for your lug nuts to hold on to and they are more likely to result in lugs coming loose and wheel balancing issues.

