I'm in no way a master of CG but I thought I'd share something I learned.
1. I'm going to take my tire, which is just a low res cylinder.^^^^^
Then create a FFD(Box) Space Warp that encloses the entire tire.
Create panel > Space Warps > Geometric/Deformable > Object Type rollout > FFD(Box)
Create menu > Space Warps > Geometric/Deformable > FFD(Box)
2. Now we need to link the space warp to the tire itself. VVVV This is done by using the Bind to Space Warp button. Click and link the two.
3. Now select the FFD and select its Control Points and start manipulating the bottom control points. VVV You can add more points if you want. I purposely made an extreme deform to show you the FX but in real life it wouldn't be this warped unless it is a flat tire.
Now when animate the tire rotating the tire will deform correctly.
This should add a bit of realism to your car animation. For non animation you would just apply a FFD modifier instead of the Space Warp version. I made a little animation. Its ugly but it shows you the animation.
Spend a bit more time and effort and you can put this to good use. Sorry if this has been psoted before. Any errors and mispellings let me know.