Sure, you can spend $1,000 on new wheels. But why not spend a couple hundred on simulators that make your stock wheels look custom?
There's some crossover in the terms -- a hubcap is really just a wheel cover, and a simulator is just a hubcap designed to make your wheel look like something it's not, namely custom, vintage or otherwise cool.
In addition to style, adding a solid wheel cover over spokes can keep grime from accumulating inside your rim, and some forums claim that a solid wheel cover can improve gas mileage. But mostly, custom covers are a way to add style on the cheap.
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